Legal Question in Business Law in Colorado
unpaid notes/ place of buisness
I previously worked for a family business where I usec my personal money to help the company and documented the notes in the books. Things got nasty so I quit. They are now trying to sell the building. Can I place a lein on the property for the unpaid notes?
1 Answer from Attorneys
Re: unpaid notes/ place of business
You cannot just place a mechanic's lien on a property just because of your loans. The lien statute is to secure payment for improvements to real property. You also cannot file a lis pendens for the property absent litigation related to that property.
You need to file suit and consider options then. Speak with an attorney before you do anything because if you cloud title absent a contractual or statutory right, they can sue you for damages.
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