Legal Question in Real Estate Law in Illinois

Escrow or Mechanics' Lien

I am working with a design company that has placed a mechanic's lien on a subcontractor. The GC wants to get a clean title and has offered to place the amount in dispute into an escrow account. The sub has bonded the lien, so it's not as big of an issue to the GC (according to them). The GC has asked us if we would like to go ahead with the escrow arrangement.

* Can someone provide me a quick overview of the pros and cons of going with the escrow arrangement vs. maintaining the lien?

* In addition, why is it to the GC's advantage to offer the escrow account, as it incurs an extra cost to them?

* Finally, does any of this effect our position in going after the amount due to us from the sub/lien bond holder?

Thanks in advance for your input.

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