What remedies are available to a general contractor who has not been paid?

In addition to a traditional breach of contract action, North Carolina General Statutes Chapter 44A provides the general contractor (a party who contracts directly with the owner) with the right to assert a specific lien on the real property that the general contractor improved. The power of a lien rests in the fact that it provides the contractor with the final remedy of foreclosing on the real property to pay off the amount owed, and thus gives the contractor superior leverage. The lien rights provided by Chapter 44A relate back to the first date of the contractor's furnishing of materials or labor on the project. However, they remain inchoate until perfected pursuant to the statute. Chapter 44A provides specific procedures and deadlines necessary for a contractor to perfect its lien rights, and it is recommended that a contractor consult an attorney as soon as it foresees a problem with getting paid in order to ensure that it does not lose the valuable lien rights available under ...