Bill > H1488

This bill proposes changes to the law regarding the dissolution of liens, which are legal claims against property to secure payment for work or materials. Specifically, it amends Section 8 of Chapter 254 of the General Laws to adjust the timeframes within which a contractor, subcontractor, or claimant must file a statement to maintain their lien. The bill introduces new deadlines, including 90 days after filing a notice of substantial completion, 120 days after filing a notice of termination, or 120 days after the last day labor, materials, or rental equipment were furnished. For certain residential properties with one to four dwelling units, a lien can be maintained for up to five years after filing a Notice of Contract, provided the homeowner files an affidavit stating they are unaware of outstanding debts. The statement required to preserve the lien must include the amount due, credits, a property description, and the names of owners as listed in the Notice of Contract. The bill also clarifies that a lien under Section 1 requires a similar statement filed within 90 days, identifying the owner at the time the work was done or the statement was filed, and allows for filing this statement before the notices of substantial completion or termination.