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The theme of securing transactions is directly related to the topic of lien. The focus of this study is whether a lien can be invalidated for being filed too soon. Besides, this paper elaborates on the legal issue of the lien invalidation due to its late submission. It is shown how these issues are addressed under the law. The possible implications of the relevant legal regulation for business are discussed.
It is necessary to start the research by disclosing the meaning of the terms used. A lien is a legal hold that a creditor has over the property of another to secure payment or discharge an obligation. Perfection is the secured party’s way of declaring the security interest to the rest of the world. A security agreement is an agreement that creates or provides for a security interest. Having dealt with the terminology used, we will proceed to the analysis of the case.
According to the case, Lattanzio neglected to document the lien statement with the province assistant’s office within six months after the date he stopped working or furnishing materials for the crop. Thus, the lien was dissolved and is unenforceable against Brunacini (Lattanzio v Brunacini, 2018). Violation of the deadline for filing the lien, as follows from the court decision, leads to the annulment of the lien right. To avoid such situations, one should learn about the deadlines for applying; such preliminary awareness will allow business organizations to avoid material risks.
Applying to the completion of the contract also threatens the company with the annulment of the application. As happened in the second analyzed case Kaweah’s lien was eventually declared void due to its failure to meet the legislative requirements (Kaweah Construction Company v. Fox Hills. Landowners Association, et al., 2017). Companies need to make sure that all necessary legal requirements are met before applying; otherwise, there is a risk that the court will dismiss the claim.
References
Kaweah Construction Comapany v. Fox Hills Landowners Association, LLC, et al. No. F070346 F.6d. (2017). Web.
Lattanzio v. Brunacini, No. 5: 16-171-DCR, 2018 U.S. Dist. LEXIS 35944 (2018). Web.
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