In Idaho, liens filed on private property or on funds relating to a public project are known as Mechanic’s Liens. When an Idaho mechanics lien is filed with regard to work performed on privately owned property, it attaches to and encumbers the fee simple ownership of property. Contractors, as well as subcontractors, design professionals, sub-subcontractors […]
Road, Bridge, and Tunnel Construction Report
According to Yahoo, as the country recovers from the recession, the U.S. road construction industry continues to struggle. Overall spending on road, bridge, and tunnel construction in 2009 and 2011 has dropped by 4.4 percent, due to the lack of a long-term transportation bill and the completion of most American Recovery and Reinvestment Act-funded projects. Even though […]
A report from the Kansas City Federal Reserve Bank
According to Bizjournals, the Federal Reserve Bank of Kansas City which regulates banks in a seven-state region, allowed for land development and construction loans to be made during the second quarter. According to the recent report by the Federal Reserve Bank of Kansas City, the banks only netted a profit of $110 million over loans in […]
A report from the Commerce Department
According to the Washington Post, the Commerce Department reported strong gains in non-residential and housing projects from June to July at an upward rate of 0.6 percent. This increase has put the residential construction at it’s highest level since September of 2008. Non- residential construction, which includes construction on hotels and motels, showed an increase of […]
Virginia’s Mechanics Lien Amendment
Virginia’s legislature has added a new section to it’s Mechanics Lien. According to Williams Mullen, beginning July 1, 2013, anyone performing labor without a valid contractor’s license, certificate, or proper class of license for the value of worked performed in the state of Virginia will lose their entitlement to a mechanic’s lien. Check out Virginia’s guidelines at LienItNow.