When multiple liens are asserted against a property, which group typically gets paid last from the proceeds?

Prepare for the Nevada Contractors Test with our interactive quiz. Ace your exam using customized flashcards and multiple choice questions, each enriched with hints and explanations. Get exam-ready today!

In scenarios where multiple liens are asserted against a property, it is the general contractors who typically get paid last from the proceeds. This occurs because of the hierarchy in lien priority established by law. Generally, laborers and subcontractors usually have priority over general contractors when it comes to claims against the property because they provide the labor and materials directly necessary for the project.

Laborers are often seen as having the most immediate claim because they are the ones performing the work on the site, and subcontractors, who usually work under general contractors, have contractual agreements that can give them priority for payment. Material suppliers, while essential to the project, are also often paid before general contractors due to their direct supply of materials used in the job.

Thus, in the context of resolving claims against a property, general contractors typically find themselves lower on the list when it comes to settlement from the proceeds of a property sale or settlement. This structure serves to protect those who are more directly tied to the physical labor and materials necessary for construction work.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy