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Step 1: Notice
Commercial: No requirement. NACM suggests serving notice 45 days from last furnishing to prompt payment.
Residential: Record and or serve as soon as possible. See
Speed Bumps
.
Step 2: Lien
Prime Contractor: Within
4 months
after last performance.
Subcontractor and supplier: Within
3 months
after last furnishing material or services. See
Speed Bumps
.
Step 3: Foreclosure
Within
1 year
after the lien is filed but where promissory note given one year from maturity.