What to Know about Builders’ Liens
Many a times when builders find themselves faced with issues like not getting paid for a job involving construction that they have already 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 term for a 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 one is seeking legal interest, it means that they have financial interest on a certain project as what that means is that they are owed monies for already delivered works.
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. 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. These forty-five days are actually the days soon after a builder is done with any given 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. In other areas, a builders’ lien deadline starts immediately after considerable completion of a given project.
A person may experience technicalities and they can actually help them to get longer number of days on the lien they filed since it will not be limited by the deadline. With a builders’ lien, there is proof that a builder has interest on a 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. That way, there is guarantee that there shall be delays when it comes to leasing or selling off the property.
To conclude, there is need for builders to know that they are covered by the builder’s lien when their dues are not paid are not paid to them at the right time. 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.