Cook Illinois Contractor's Verified Statement of Labor and Materials and amount due — Mechanic Lien— - Corporation or LLC is a legal document used in the state of Illinois to protect the rights of contractors and subcontractors who have not been fully compensated for their labor and materials. This statement is specifically designed for corporations or limited liability companies (LCS) engaged in construction projects. The purpose of the Cook Illinois Contractor's Verified Statement of Labor and Materials is to establish a valid claim against a property where work has been performed, securing the contractor's right to collect payment owed. By filing this statement, the contractor places a lien, known as a mechanic's lien, on the property, ensuring that they have a legal recourse to recover their unpaid expenses. This verified statement contains crucial information such as the contractor's or subcontractor's name, address, and contact details. Additionally, it includes details about the property where the work was conducted, including its legal description and ownership information. It outlines the specific labor and materials supplied by the contractor, as well as the corresponding cost and date of completion. There may exist variations of Cook Illinois Contractor's Verified Statement of Labor and Materials and amount due — Mechanic Lien— - Corporation or LLC based on the specific circumstances involved. For instance, different forms may be utilized depending on whether the entity is a general contractor or a subcontractor. Additionally, other variations may account for the size and complexity of the project, or if there are joint contractors involved. In conclusion, Cook Illinois Contractor's Verified Statement of Labor and Materials and amount due — Mechanic Lien— - Corporation or LLC is a critical legal tool used by construction contractors to secure their unpaid expenses and protect their rights. By accurately documenting the labor and materials provided and filing the statement with the appropriate authorities, contractors can assert their claim against the property in question, ensuring fair compensation for their services.
Cook Illinois Contractor's Verified Statement of Labor and Materials and amount due - Mechanic Liens - Corporation or LLC
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FAQ
Mechanics Liens in Illinois are governed by the Illinois Mechanics LIen Act (770 ILCS 60/0.01, et seq.). The purpose of the Mechanics Lien Act is to ensure that contractors and subcontractors who provide labor, materials, fixtures, or machinery to improve real estate receive payment for their services and materials.
WHAT MUST I DO BEFORE I FILE MY LIEN? Usually there is at least one notice that you must mail before you can file your lien. These notices are sometimes called notices of intent to file lien. Illinois Document Preparation fee of $165 includes all required notices of intent.
When a lien has expired, it should either be automatically dissolved, or an owner should be able to remove the lien without an extensive, drawn-out process. Something as simple as a mere filing by the property owner (with notice to the lienor) should be possible to discharge a lien.
Under Illinois law, a mechanics lien should be filed in the County Recorder of Deeds where the property is located. This is crucial as the lien must be filed not only in the correct county but the correct office as well. The fees and specific document formatting vary depending on your county.
To Remove Lienholder: Submit lien clearance letter from the lienholder indicating that the lien has been paid in full; or. Submit lien contract stating that the lien has been paid in full; Submit a court order directing our office to issue the duplicate title without the lien or lienholder's name.
If you are seeking to remove a lien from a vehicle, the lender will typically send the release of lien once the loan is paid in full. It can take up to thirty days to receive the title and the lien release after the final payment.
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.
Mechanics liens are valid for 2 years after filing in Illinois. This means that, unless you extend the lien, you have 2 years to enforce your lien.
Who can file an Illinois mechanics' lien Claim? Contractors, as well as subcontractors and material suppliers can file an Illinois construction lien. If a company does not have a contract with the owner or with the contractor, they are not eligible to file an Illinois mechanics lien claim.
When a lien has expired, it should either be automatically dissolved, or an owner should be able to remove the lien without an extensive, drawn-out process. Something as simple as a mere filing by the property owner (with notice to the lienor) should be possible to discharge a lien.