Minnesota has a procedure to assure people who provide labor or materials for improvements to real property that they will be paid. In general, if material or labor is provided which improves or repairs the real property, the party providing that material or labor has the right to file a lien on the property if they are not paid.
Minnesota statute gives this type of lien a special priority – it is treated as if the lien were filed as of the first day any work was done on the property as a part of the whole improvement. For example, when a new building is constructed, one of the early steps is often excavation and one of the last steps is finish carpentry. If the finish carpenter is not paid and files a lien it is treated as if it had been filed on the first day that the excavator (assuming that this is the first work done) did any work on the property.
Commercial Partners Title Company
Commercial Partners Title Company has been providing title insurance services to clients throughout the United States for decades. During our time working in the commercial title industry, we have developed a reputation for being experts in commercial transactions. Our team can walk you through the entire process, answer any questions you may have along the way and ensuring that you are fully prepared for the closing table. Reach out to us today to learn more about the commercial title process, our services, and see how we can help you with your next commercial real estate transaction!