Saturday, August 30, 2008

query: subdivision contractor claims

The only party who can file a claim against title insurance policy is an insured party - either lender or owner. If a subdivision contractor hasn't been paid, the contractor should seek legal advise and consider options such as filing a mechanics lien. Most mortgage lenders require a stipulation against liens before the start of construction and mechanics lien laws can be quite complicated. Competent legal advice is the best place to start.

No comments: