Tuesday, July 17, 2012
Filing Your New Mexico Lien
New Mexico Lien Law
Who Can File: Anyone who contributes to the the project can file a claim of lien. New Mexico is one of the few states that allows architects and surveyors to lien a property.
What Can Be Claimed: Anything that has been incorporated into the project can be part of the claim. The Claimant must be able to show that the work done was part of the project. This proof can include invoices, purchase orders, and contracts.
Contract Requirement: Any form of documentation showing that an agreement for work was made is sufficient. An oral agreement is acceptable as long as the owner acknowledges that the work will be done.
Preliminary Notice Requirements: If the Claimant is a General Contractor, or if the project is residential and 4 units or less, no prenotice is required. All other Claimants must serve a preliminary notice upon the owner and General Contractor at any time before the lien can be filed.
Lien Filing: Subcontractors and all lower tier Claimants must file the lien within 90 days from completion of the whole project. Prim Contractors have 120 days from completion to file. Foreclosure action must take place within 2 years from the filing date or the lien will expire.
Stop Notices: As of 2012, the Stop Notice Act has been repealed and this is no longer a valid alternative to a lien filing.
Bond Claims: A bond claim is a good alternative to a lien for public projects which are bonded. The claim must be served on the contractor and surety within 90 days from the last date of work. Suit must be brought within 1 year from satisfaction of the original contract.
at 1:26 PM