On private construction projects, the lender often requires that the owner/borrower obtain the written consent of the contractor to the collateral assignment of the construction contract by the owner to the lender. This permits the lender to step into the owner’s shoes with respect to the construction contract in the event of the owner’s default
Are Attorneys’ Fees Recoverable on a Mechanics’ Lien Claim Involving a Homestead?
Under Minnesota law, a contractor may collect reasonable attorneys’ fees in a mechanics’ lien foreclosure action even if the property is a homestead. The amount of the award is in the discretion of the court. That is not the case in every state as recently illustrated in Iowa.
Historically, Iowa has liberally construed its mechanics’
When do Statutes of Repose Begin to Run on Condominium Projects?
A statute of repose defines the date by which a particular type of claim must be asserted before it becomes untimely, or “stale,” and can no longer be pursued. This provides designers and builders of construction projects some security that, after a certain date, they cannot be hauled into court to answer for their alleged
Construction Industry Trends—Insights from the 2019 CLA Civil Construction Benchmark Report
Much of the construction practice at Larkin Hoffman involves the civil construction industry. Our interest in the current state of civil construction in the U.S. was piqued by our review of a recent study by the national accounting firm, CliftonLarsonAllen LLP (CLA). We thought the study and findings would be of interest to you, so
Construction Alert: Retainage Revolution Hits Minnesota
Parties to public and private construction contracts entered into after August 1, 2019 are subject to new statutory requirements and limitations regarding the withholding and release of retainage, that portion of earned contract funds withheld by the owner from the contractor pending completion of the project. It is important that owners, prime contractors, and subcontractors