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<a href="http://www.accessmylibrary.com/coms2/summary_0286-26329970_ITM" title="Facts and information about Mechanic's Liens in New York. (Construction Corner).">Mechanic's Liens in New York. (Construction Corner).</a>
Mechanic's Liens in New York. (Construction Corner).
Business Credit
|
October 01, 2002 |
Luz, Thomas J. |
COPYRIGHT 2002 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
INTRODUCTION
New York State has had a comprehensive mechanic's lien statute since 1897. Designated as Article 2 of the Lien Law, the statute was rewritten in 1909 and has been periodically amended since. The mechanic's lien rules in the 1897 Lien Law were derived from existing statutory and common-law precepts, which had developed in the commercial hurly-burly of eighteenth- and nineteenth-century New York.
The purpose of the mechanic's lien statute is to protect contractors, subcontractors, materialmen and other persons whose services and materials add permanent value to real estate. The class of protected persons is quite broad, reaching architects, ...
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Source: HighBeam Research, Mechanic's Liens in New York. (Construction Corner).