Things You Should Know About The Builder’s Lien In Alberta.
A builder’s lien is basically an act that was designed to protect members of the building society like contractors and suppliers. It allows contractors and suppliers to raise a claim that can lead to the foreclosure of your property. See below what you need to 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. If the contractor realizes that payment may not be forthcoming or is being delayed unnecessarily, then he or she can lay a claim based on this lien. You will find that the repercussions of not taking this claim seriously can cost you a whole lot. The only way a supplier can make a claim using this lien is if the items he or she has supplied has already been used up on the property.
Another fact on Builders’ lien is that it can inhibit you from selling a home and also change your bank status as well as crediting rating. Lien can lapse after a given period of one hundred and eighty days if the right procedures are not followed according to Builders’ Lien Act. 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 has made it more complicated as no proof is needed. From the time you stopped working you should file within a period of forty five days.
While it may seem like the lien is a death sentence to you as an owner, you have a way of redeeming yourself. Having the lien like a tag on you says that you are not responsible enough to pay up your debts and cannot be trusted so you better find a way to rid yourself of it. 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.
A court order can be your ticket to getting rid of the lien from your property. The requirements for such an order will be you paying up an amount worth the lien and something more. This will remove that burden from your shoulders. 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.