What to Know 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 situation arises, there may be need for them to file a builders’ lien seeking to be compensated for works done. A builders’ lien is also known as a construction lien. There are steps that one is supposed to follow when one is seeking legal interest against any property a builder has worked 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.
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. This however varies from province to province as such liens are usually filed in United Kingdom. For this reason, it is wise for a builder who is trying to seek compensation to know the timelines as well as the deadlines set for them to already have filed a builder’s lien. For example, builders living in Alberta, they should know that the set number of days before the deadline is over is 45 days. However, these 45 days are set soon as a builder leaves a 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. After the 45 days are over, there is no guaranteed way that one will be able to extend this deadline so as to file for a construction lien. In other areas, a builders’ lien deadline starts immediately after considerable completion of a given project.
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, the next thing is that it is registered with the tile of that piece of land. That way, there will arise a delay in sale or lease of the property at hand.
In conclusion, builders should be aware that they are usually covered in case they are not paid their dues when it is time. 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.