Legal Question in Real Estate Law in California
Promissory Note to Mechanics Lien
I have a notarized Promissory Note against real property. No deed was recorded, however note attaches to real property via legal description and speaks to % of property equity as repayment amount. Maker was happy enough 3 years ago to get the money, but not so happy today to pay it back according to terms. I fear sale and subsequent difficult collection of monies owed, even if I obtain a court verdict. Am I legally entitled to tag prop with mechanics lien due to specificity of Promissory Note? If not, what is the best way (quickest) to protect my interest?
5 Answers from Attorneys
Re: Promissory Note to Mechanics Lien
See a lawyer immediately. You will probably want to record this unorthodox note. What makes you think you would be able to foreclose on a mechanic's lien?
Re: Promissory Note to Mechanics Lien
You generally have no right to place a mechanic's lien unless you are a licensed contractor and follow proper statutory procedures. You should try to have the owner execute a deed of trust that you can record to support your note. If he refuses to do so, I suggest you file a lawsuit against him and record an abstract of judgment to protect your interest. Please contact our office if you have any other questions.
Re: Promissory Note to Mechanics Lien
You have absolutely no rights to any mechanic's lien placed upon the facts that you've given. What I suggested you find an attorney immediately and has expertise in real estate law so he/she can tell you what to do to protect your rights, if any. They knew this yesterday. If you had not allowed everything to be done without an attorney's review to begin with you would not be in this predicament. What I am telling you is not to add salt to the wound but if you don't do it right and do it your self you probably will lose everything ---- I have been practicing law in the San Francisco Bay area for approximately 35 years and expert in the area in the category in which your question is placed. I feel I can help you in this matter and if you wish to consult with me please contact me at 925-945- 6000.
Re: Promissory Note to Mechanics Lien
If the note specifies that repayment is secured by the real estate, record the note in the county in which the real property sits.
Re: Promissory Note to Mechanics Lien
A mechanic's lien as to do with work done on the property, which is not the case in your situation.
If the document is notarized, you should be able to record it against the property.
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