The State of Nevada has enacted the Uniform Mortgage Modification Act (UMMA or the Act) as Assembly Bill 192, which will become effective on October 1, 2025. The UMMA was prepared by the National Conference of Commissioners...more
When owners file bankruptcy or projects otherwise go south, lien priority often comes to the forefront. The idea is relatively simple. Priority is how courts determine which creditors get paid first. This often pits...more
Indiana has a significant body of legislation and case law addressing the priority of mortgages vs. mechanic’s liens. The banking and construction industries in Indiana are well developed and funded and have over the years...more
This post follows, almost two years to the day, Rick Erickson’s post of August 29, 2014. As noted by Rick Erickson in his August 29, 2014 post, the Arizona Supreme Court in the Weitz case (2014) had determined that equitable...more
Bankers and other professionals who have worked on construction loans in states other than Connecticut will know how much of a pain it can be to make construction loan advances. You usually need to perform a title update and...more
When visible construction begins, Nevada law says mechanic’s liens attach to the construction site. A construction lender wants to ensure that its deed of trust securing the construction loan has first priority to the...more