New York Satisfaction of Mechanics's Lien is a legal document used in the state of New York to record the complete satisfaction of a mechanic's lien. A mechanic's lien is a legal claim placed against a property by a contractor, subcontractor, supplier, or laborer who has provided labor or materials to improve a property but has not been compensated. In order to clear the lien from the property, the lien holder must file a Satisfaction of Mechanics's Lien, which is a document that acknowledges the debt has been paid. The most common types of New York Satisfaction of Mechanics's Lien are the Full Satisfaction and the Partial Satisfaction. A Full Satisfaction is used when the debt has been paid in full and the lien is completely cleared from the property. A Partial Satisfaction is used when the debt has been paid, but not in full. In this case, the lien is partially cleared, and the remaining balance is still due.
New York Satisfaction of Mechanics's Lien
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FAQ
New York Lien Law § 20 provides that an owner may discharge a mechanic's lien by the payment of money into court. Before a lien foreclosure action is commenced, the discharge is effectuated by depositing with the county clerk a payment equal to the amount claimed in the lien, with interest to the time of the deposit.
The mechanics lien remains valid for one year provided the affidavit of service of lien is properly completed and filed. The one year time period is measured from filing in the County Clerks Office.
Filing a lien extension A New York private mechanics lien can be extended if an extension is filed in the county clerk's office where the lien was filed within the enforcement deadline (one year from the lien). Once recorded, the validity of the lien will be extended for one year.
If you work or provide material to a contractor or subcontractor of a public improvement project for the City, you can file a Notice of Lien. A lien is a legal claim against property for outstanding debt. You can file the notice before the project is completed or within thirty days of completion.
Until service of the notice has been made, as above provided, an owner, without knowledge of the lien, shall be protected in any payment made in good faith to any contractor or other person claiming a lien.
New York Lien Law § 20 provides that an owner may discharge a mechanic's lien by the payment of money into court. Before a lien foreclosure action is commenced, the discharge is effectuated by depositing with the county clerk a payment equal to the amount claimed in the lien, with interest to the time of the deposit.
