As reported by the Wall Street Journal Despite an extended slump in real-estate prices, most Americans still believe homes are the best investment, according to this a survey released today by the Pew Research Center. According to the results of a telephone survey conducted in March, Pew found eight-in-ten adults believed a home was the best […]
Month: April 2011
Signed Contracts Needed to Support Mechanics Lien in Massachusetts
Written for the Association of Corporate Counsel by Hugh J. Gorman, III of the law firm of Prince Lobel Glovsky & Tye LLP. The Massachusetts District Court Appellate Division recently upheld a municipal court trial judge’s order dissolving a mechanic’s lien because written proposals betweena contractor and a property owner were never signed. In the […]
Construction Indicators Show Economy Gaining Steam
Written by Associated Builders and Contractors. Despite the loss of 1,000 jobs in March, the nation’s construction industry unemployment rate edged down to 20 percent for the month, according to the April 1 employment report by the Labor Department. Year-over-year, construction employment is down by 36,000 jobs, or 0.6 percent. Today’s rate is lower from […]
IRS Gives Priority to Mechanics Liens
In a general victory for contractors and suppliers owed money on a residential project, the IRS published final regulations (TD 9520) that govern the validity and priority of federal tax liens under IRC § 6323. Under IRC § 6321, the federal government has an automatic tax lien against any person who does not pay federal tax […]