What is a Mechanic’s Lien?
A mechanic’s lien is a simple, cost-effective tool that helps contractors, subcontractors, designers, and materials suppliers get paid for their work. A lien is an ownership right in property, and a property subject to a lien generally cannot be sold or refinanced until the lien either expires or is satisfied. The lien holder can also bring a court action to obtain a judgment based on the lien or, in some cases, an order allowing a sale of the property to pay the debt. To qualify for a lien, the materials […]
Your LLC can be a great way to protect your personal assets from debts or liabilities that your company may incur. This protection, however, can be lost if your business doesn’t take the proper steps required by state law. Here’s some tips to help make sure that you’re getting the most protection.
1) Don’t Mix Business and Personal Funds
Don’t use business money to pay personal expenses or move money back and forth between your business and personal accounts. The court will presume that if the company can pay your personal expenses, then […]