To collect on a mechanic's lien, action must be commenced within how long after the date of the last item recorded in the lien statement?

To collect on a mechanic's lien in Minnesota, action must be commenced within one year after the date of the last item recorded in the lien statement. This timeframe is established under Minnesota Statutes, which govern mechanic's liens and ensure that lien claimants have a clear and reasonable period within which to initiate foreclosure actions on their liens.

The one-year period allows sufficient time for the parties involved to resolve any disputes regarding payment for services or materials supplied. This duration serves as a balance between the rights of the lien claimant and the need for property owners to have a definitive timeframe in which they can address potential claims against their property.

Knowing this timeframe is crucial for contractors and subcontractors, as failing to initiate action within one year can result in the loss of their lien rights. It's essential for those in the construction industry to be aware of such statutory requirements to effectively manage their legal rights and responsibilities.