September 7, 2010
Recently, the Alaska Legislature passed House Bill 253 which extends the time within which to file a lien to 120 days. Under prior law, contractors, material suppliers, and service people who have not been paid by property owner for labor or goods, had 90 days from the date of completion of the work, or from the date the service ceases, to file a lien on the property to secure payment of that debt.
This extra time will give contractors, material suppliers, and service people an additional 30 days to work with property owners to secure payment or to negotiate a reasonable payment plan between a creditor and debtor.
This change is effective today, September 9, 2010. Revisions will be uploaded to the Alaska chapter in a few days to reflect the change.
Robert J. Dickson, Esquire (Contributing Author)
Atkinson, Conway & Gagnon, Inc.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment