A construction lien in New Jersey can be a helpful tool in many cases. However, you will always have those situations that drag on too long. These liens have an expiration date. They do not last forever, so you have to be ready for when it expires. According to ForConstructionPros.com, your lien will expire, but that does not mean it disappears. If you do not take the right steps, it could even become a negative issue for you in the future.
Eventually, your lien expires, which means that you cannot enforce it after the expiration date. However, it stays attached to the property until you cancel it. You may think that canceling it is a horrible idea. After all, if it remains on the property, it prevents the sale of that property, and that could potentially mean seeing some of the money owed to you. However, if you already got payment, you need to cancel the lien to release the property.
In addition, it possible the property owner may sue you to get the lien released. This could be costly. You would potentially lose since the lien is no longer enforceable.
In most cases, regardless of how things worked out, it is in your best interests to cancel the lien once it expires. You are not likely to get more money out of the property owner, but you could end up losing money if he or she takes you to court. This information is for education and is not legal advice.
