Contractors, subcontractors, owners, lenders and title companies often become intertwined when a party seeks to purchase title insurance coverage for mechanic’s liens. Since mechanic’s liens for most commercial projects may be recorded in Indiana up to 90 days after the completion of work, title insurance commitments and policies have a general exception for “unfiled mechanic’s or materialmen’s liens.” However, in many situations, a title company will agree to delete this exception and thereby insure the owner or lender against such risks.
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Posts Tagged ‘contractor work’
Title Insurance Coverage for Mechanic’s Liens
Tuesday, November 1st, 2011Title Insurance Coverage for Mechanic’s Liens
Tuesday, July 13th, 2010Contractors, subcontractors, owners, lenders and title companies often become intertwined when a party seeks to purchase title insurance coverage for mechanic’s liens. Since mechanic’s liens for most commercial projects may be recorded in Indiana up to 90 days after the completion of work, title insurance commitments and policies have a general exception for “unfiled mechanic’s or materialmen’s liens.” However, in many situations, a title company will agree to delete this exception and thereby insure the owner or lender against such risks. (more…)