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Vendees’ Liens—Construction Lenders Beware!

By:  David A. Sprentall A recent Arizona Court of Appeals decision highlights a lien priority risk for secured construction lenders when the financed project fails. The problem—known as a “vendee lien”—is most likely to arise when up-front deposits are paid by buyers of units in condominiums or similar projects. The case, Rigoli v. 44 Monroe Marketing, […]

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