All About Builders Liens
There are times when builders may experience troubles when they are looking to getting paid for works that they already have done. When such a thing happens, there is need for awareness to builders’ lien as that is one of the ways to seek compensation for already done works. 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. Seeking legal interest simply means that a builder has financial interest on this kind of a project mainly because they have not been paid for works that has already been done.
It is wise for builders to know that when one is filing a construction lien, one can be limited by the time to file it as there’s deadlines. This however varies from province to province as such liens are usually filed in 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 example, builders living in Alberta, they should know that the set number of days before the deadline is over is 45 days. The forty-five days should actually be after a builder has left the construction site.
Another thing to note is that a builders’ lien can be filed on the first 45 days after job completion in case a builders’ dues haven’t been paid or the property owner has abandoned construction. There is usually no guarantee that after the forty-five days are over that one will be able to file a builders’ lien against the property. Some other areas are such that the deadline kicks off immediately after some considerable amount of works has been done by the builder.
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. Once the lien has been placed, it is usually registered against the land title. That way, there will arise a delay in sale or lease of the property at hand.
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. Therefore, in case of any experienced delays, the next thing to do is to file a builders’ lien and with that they can remain assured that the lien will stay attached to other supporting documents relating to the property up until all pending issues and dues are addressed and paid.