Smart Ideas: Deadlines Revisited
What You Need To Know About The Builder’s Lien In Alberta.
Alberta has a builder’s lien that protects contractors against non-payment from home owners. The Act gives contractors and suppliers room to foreclose on your property when there is a dispute on payment. Find below a few things you should know about the builder’s lien in Alberta.
You should first understand that this kind of claim can be done by anyone who has done any work on your land or property. This happens when a contractor feels like there is no other way to handle the payment issue with you. It is important to understand that such a claim can lead to the foreclosure on your property and should be taken with the seriousness it deserves. A supplier is entitled to make such a claim on the builder’s lien if the materials they have supplied have already been used in improving the land or property in question.
Do you know that lien has the power and authority of preventing you from selling property and at the same time interfere with your credit rating? Builders’ Lien Alberta Act states that if the right ways are not adhered to, lien can lapse after a given period of one hundred and eighty days hence the need to do it within the stated law. Having in mind that lien has its downside, many people have been confused from time to time as there are mixed reaction pertaining lien. This is because there is a sense of belief that filing a wrong lien can be done easily.
It is also proven that no proof is needed and this makes it even more complicated. And it is imperative to file within forty five days since the last day you stopped working as stated in the statutes.
The good news for owners who have been culprits of this lien situation is that it can be removed. Having the lien in your title is ugly and you would want to have it removed. You need to make sure that you are not rubbing shoulders the wrong way with the law so take the legal route and go through the process. The first thing to do which has to be done early in time just when the notice is issued is to prove that you are innocent.
If the lien is already in your title you can request a court order to rid yourself of it. You will then be asked to place money in court amounting to about 115% of the value of the lien so that it can be removed. The money will replace the lien and it will be removed. Getting a consent order is much harder because the holder has to approve it. This is because the lien holder has to have given consent for the removal of the lien and its replacement with the money.