Real estate law 3

4/29/2020 Sample Content Topic

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Lien Impact on the Buying Process

Overview: There are several types of liens that can affect the sale and/or use of a property. In this assignment you will analyze a scenario in which clients are deterred from a home purchase because of a lien. Read the scenario and then address all the checklist items to develop a solution to the clients’ real estate purchase problem.

The following Course Outcome is assessed in this assignment:

MT432-2: Develop a solution to a real estate legal problem.

Scenario (fictional): Myra and Abe want to buy a second home so they can vacation there as well as eventually retire to the area along the shore of Maine. They currently own a home in Boston, Massachusetts. They were having some renovation work done on their Boston home, adding on a glassed-in porch. The work was done by Boston Sun Construction Company under a signed contract with the owners to pay $20,000 in four installments when the work was 25% completed, 50% completed, 75% completed, and 100% completed in mid-October. But as they neared completion, the agreed upon deposit of three-quarters of the costs had not been paid, only half.

The construction company sent them repeated bills to which they did not respond in the month of August. At that time, Myra and Abe were up in Maine enjoying their vacation and looking at properties. Although the owner of Boston Sun Construction called several times, neither Abe nor Myra answered the calls, thinking all was well. Now Boston Sun Construction Co. has halted construction at the Boston home and put a mechanic’s lien on their home.

Assignment Details

4/29/2020 Sample Content Topic

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In the interim, Myra and Abe applied for a mortgage for a second home they found in Maine. But to their dismay, their mortgage was declined because of the mechanic’s lien. Now they are suing Boston Sun Construction Co. for damages since they have lost the option on the home in Maine that they wanted.

Checklist:

Provide a summary analysis of the case and the facts. Describe the problem and what should have been done to prevent the problem.

Research Boston, Massachusetts’ mechanic’s lien laws. Analyze the legal considerations regarding the mechanic’s lien.

Determine how this will be resolved in your opinion based on precedence and the real estate law in your text and explain why.

Decide who will be entitled to what amount and why.

Respond in a minimum of 600-word analysis with additional title and reference pages in APA format. After checking the spelling and grammar, submit your response and to the Unit 3 Assignment Dropbox. Access the Unit 3 Assignment grading rubric.

Disclaimer: The organization and characters depicted in this exercise are fictional. Any resemblance to real organizations or individuals is purely coincidental.