Lakewood contractors Liberty HVAC have just placed a $113,200 contractor's lien against Regency Development and 100 Airport Road LLC (which is registered to Simcha Ingber), FAA News has learned.
The lien is for unpaid work to supply HVAC equipment at 100 Airport Road.
On October 28, 2022, the parties entered into an agreement with Liberty HVAC to supply HVAC equipment at 100 Airport Road.
Since that time $113,200 remains unpaid for this work.
The work was last completed on August 8, 2023.
Construction liens provide a potent remedy for contractors, subcontractors and vendors, who have not been paid for work they have properly performed.
Construction liens exist to provide an effective mechanism for contractors to be paid what they have earned for completed work.
The power to place a lien on property is a powerful tool to compel delinquent owners to ensure that payment is made.
A construction lien gives a contractor or subcontractor which did work, or a vendor which supplied goods, services or equipment, on a construction project an interest in the property.
It is generally difficult or impossible for owners to sell property when there is a construction lien. This gives owners a powerful incentive to pay what is owed, and to force a contractor to pay its subcontractors and vendors.
It also allows a contractor which prevails in a suit the ability to use the property for payment of the debt it is owed. The proceeds will be paid out of any sale, and the owner will not be able to obtain credit or financing without paying off the lien.
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1 comment:
This story is missing context.
Please take down
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