By Jeff Ryan
Over the course of the past 24 months, there has been an increasing emphasis on construction law and trends in construction law. Therefore, if an individual is involved in the construction business or in an affiliated industry, it is important to have a basic understanding of these construction law trends at this point in time in the 21st century. Through this article, you are provided a review of these trends.
One of the most significant trends associated with construction law in this day and age revolves around construction enterprises that are finding themselves in the position of having to deal with projects that are not being completed because of financial problems on the part of the developer. Indeed, at this point in time a record number of developments are being halted midstream due to financial problems facing the developers themselves.
In this regard, construction companies of different types - from contractors to all manner of subcontractors - are finding it necessary to cover issues relating to defaults and termination of construction projects prior to completion due to financial problems being experienced by developers.
Many developers actually are ending up in bankruptcy. Therefore, when it comes to construction law related issues, a prime concern of companies and individuals in the construction industry is being able to protect their interests in the confines of bankruptcy proceedings. Therefore, a good number of these types of construction related business enterprises are finding it imperative to engage legal representation that is well versed in the arena of bankruptcy defense and in related areas of the law.
Another significant trend in the arena of construction law at this juncture in the 21st century involves making sure the enterprises involved in the construction industry are as fully protected as possible when it comes to the contracts that they enter into with developers and other enterprises involved in the industry. Provisions in these contracts that provide adequate protection to these construction related enterprises in the event of one kind of default or another are becoming of particular concern.
Finally, when it comes to trends relating to construction law, contractors liens are becoming an even more important issue. In simple terms, these are liens that are placed on real estate when a contractor or subcontractor performs work relating to that property. These liens provide a contractor, subcontractor or other construction industry related entity at least some level of additional protection in the event that a particular project ends up on the skids for one reason or another. In theory, a contractor, subcontractor or other similar type of entity can foreclose on that lien.
Once again, as was noted previously, when it comes to legal issues and challenges facing the construction industry presently, an enterprise in this industry is well served engaging the services of an experienced attorney. In the end, the best course that a business enterprise in the construction industry can take when it comes to protecting and defending their legal interest is through the assistance of a qualified, experienced and reputable attorney.
Jeff Ryan creates quality legal articles to help you learn more about common legal issues. His portfolio spans a medley of legal topics such as personal injury, criminal, accident, malpractice and more. To research other legal topics or to view the lawyer directory to find an attorney, go to Construction Law Attorneys. Article Source: http://EzineArticles.com/?expert=Jeff_Ryan |  |
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