PLTA Plays Key Role in Passage of Legislation Addressing Mechanics’ Liens and Open-end Mortgages
August 19, 2014
The act overcomes problems created by the decision by the Superior Court in the 2012 Commerce Bank/Harrisburg, N.A. v. Kessler case. That ruling mandated that for an open-end construction mortgage to have statutory priority over mechanics’ liens, 100 percent of the proceeds had to be used for hard costs of construction.
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