Minnesota law states that any lien expires at the end of one hundred and twenty (120) days after work ceases, unless the lien claimant files a verified statement of account within that period. This form specifically states all the information required by statute to preserve the claimant's lien. A copy of the verified statement must be served personally or by certified mail and be verified by the oath of the party claiming the lien.
The Minnesota Mechanic's Lien Statement by Corporation or Partnership CBCBC Form 40.1.2 is a form used by corporations and partnerships in the state of Minnesota to protect their financial interests in a construction project. This form is used to assert a lien on the property in question in order to guarantee payment for services and materials provided for the project. The form is divided into two parts: Part 1 is the Mechanic’s Lien Statement of Claim and Part 2 is the Notice of Right to Foreclose. The Mechanic’s Lien Statement of Claim must be filed with the county recorder in the county where the property is located and must contain information about the claimant, the property, and the amount of the lien claim. The Notice of Right to Foreclose must be served on the owner of the property and must be sent within three months of filing the Mechanic’s Lien Statement of Claim. There are two types of Minnesota Mechanic's Lien Statement by Corporation or Partnership CBCBC Form 40.1.2: an Original Statement of Claim and an Amendment to Statement of Claim. The Original Statement of Claim is used to assert a lien on the property and the Amendment to Statement of Claim is used to amend an existing lien.
