Business Law Compare And Contrast Essay

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Statutes for real estate vary from state to state. While there is common law that is similar in every state, there are no two states that have the same statutes. All fifty states do have laws pertaining to real estate, it just varies on what exactly is covered and what specific steps must be taken. Some statutes across states remain the same, while some states have statutes for circumstances that others do not. It is also possible that within the state, statutes are different from county to county. While comparing the two states, New York and Massachusetts, there are some statutes that are quite common, but have their own differences for each possibility. New York and Massachusetts have strict laws on timeshares and mechanic liens, but the time frames for filing and what is covered is very different. In the following paper the timeshare and mechanic lien statutes of New York and …show more content…

Massachusetts laws state that the party filing the lien must file a notice of contract, any time after the execution of contract, whether the payment date has passed, or the work has been performed. However, it must also before 60 days after filing the notice of completion and 90 days after filing the notice of termination as well as being 90 days after the last time working furnishing the property with materials or labor. In New York it has much less laws on the time to claim the lien on the property. If the claim is being filed on residential property it must be within 4 months of the last day that labor or material was provided, while there is 8 months to file on commercial property. There is only 30 days to file on a Public Project in New York. Liens in New York are good for 1 year, while commercial property can file for an extension within that 1 year time frame. Residential property must be court issued to extend the duration within that 1 year to be extended for an additional

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