Get Your Retainage Before the Notice of Commencement Is Terminated

Описание: When a project is refinanced, the lender ends the old notice of commencement and records a new one. That’s when you need to make sure all your retainage is paid. Under Florida law, once the notice is terminated, you only have 30 days to record a lien for any unpaid balance. If you don’t collect your retainage before signing the final release, you could lose your right to lien for it later. Always confirm payment of everything you’ve earned through the date of termination before you release your rights.
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