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What to Know about Builders’ Liens
Sometimes builders are faced with issues such as not getting paid yet they have already delivered what was required from them. In case of such happenings, there rises the need for them to express interest by filing a builders’ lien so as to seek payment for the work they have already completed. Another name for builders’ lien is a construction lien. There are however steps that have to be followed by any person who is seeking legal interest on a property that they have done works on. When a builder is seeking legal interest on a property, it serves as proof that they have financial interest as works done have not been paid for.
There is need to know that when one is filing a builders’ lien, there is a time limit on when that has to be done. However, all these deadlines do vary from place to place mainly because they are usually filed in different places in the United Kingdom. Due to this fact, it is wise for builders to know about these timelines and deadlines so as to be in time when filing. For instance, for those people living in Alberta, they need to know that they have a time limit of forty-five days. The forty-five days should actually be after a builder has left the construction site.
It is also wise to note that the construction lien can be filed before forty-five days in case builders have not been paid and the project has been abandoned. Soon as the 45 days are over, there are no chances that one can override the deadline in order to file for this kind of lien. There are other areas when a construction lien deadline kicks off soon as substantial works have been done on a given property.
There are also technicalities one may go through which can allow them to have a longer lien than the stated number of days. Soon as a builder files a lien, it is always enough proof to indicate that they have interest on the property. Soon as a builder’s lien is issued, the next thing that happens is that it gets attached and registered against the title of the property that a builder worked on. When this is done, it guaranteed delays in any future planned lease or sale or the already completed property.
Lastly, there is need for builders to be aware that there is a cover for them in case they experience delays in being paid their dues. If delays occur, a builder will simply file one and then the lien can not be removed up until the agreements in place have been met and addressed as expected.
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