Who pays a mechanic’s lien after a sheriff’s sale?
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Who pays a mechanic’s lien after a sheriff’s sale?
Will I be paid by the bank or the new owner if I filed a mechanics lien and there is a sheriff sale scheduled for this month? The lien was not a part of foreclosure.
Asked on May 11, 2012 under Real Estate Law, Illinois
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Whether you get paid any portion of the amount of the mechanic's lien on the real property that is subject to the sheriff's sale depends upon numerous factors as follows:
1. the total bid price;
2. the amount of all senior liens ahead of yours. Meaning, if there is not enough money on the sucessful bid for the property at the sheriff''s sale in relation to the recorded liens ahead of you, you will get nothing for your mechanic's lien.
3. the sheriff will pay all monies out of its account concerning the sale that you have written about.
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