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Then, a creditor with a judgment lien may be able to force you to sell your property to pay off the judgment. They can do this even if you owe other creditors money. The lien remains in effect for 7 years, even if the creditor does not force a sale.
If you try to sell your home in Illinois, you may run into trouble if there is a lien on it. A lien is a claim to your property because you owe a debt. A creditor may put a lien on your home to ensure you pay back your debt, and if you do not, the creditor could take your home as payment.
In Illinois, lien waivers are legally required in order to provide protection for both contractors and land owners in any construction project. Prior to payment, a conditional waiver must be signed in order to protect the contractor from providing labor or materials without proper payment.
The statute of limitations is two years from the recording date of the lien.
Lien Deadline Summary Record the claim for lien with the county recorder within 4 months of the last date of furnishing. Send copy of recorded lien to the owner if the work was done on a single family owner occupied residence. File a lawsuit suit to enforce lien within 2 years of the last date of furnishing.
The Time Comes To File your Illinois Mechanics Lien In Illinois, the lien must be verified by the subcontractor with an affidavit, and must include a statement detailing the contract, the balance due, and the legal description of the property that you are attaching the lien to.
To file a mechanics lien in Illinois, the contractor must file a claim of lien with the recorder of deeds office within four months of the last day of work. The claim must include the following information: A statement of the work performed or materials supplied. The date that the work or materials were supplied.