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All There Is To 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. The Act gives contractors and suppliers room to foreclose on your property when there is a dispute on payment. See below what you need to know about the builder’s lien in Alberta.
The first thing you should know is the fact that, it is any contractor or supplier that can raise this claim against you as long as work has been done on your property or land. 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. Thus, it is very important to understand the implications of such a claim and take it with a lot of seriousness. 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.
It is also essential to note that lien can hinder one from selling a home as well as spoiling ones rating of credit. If the legal ways are not properly followed, there is a risk of lien to lapse after a hundred and eighty days. 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 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. If you are being accused wrongly then you should prove that in time with evidence.
If the lien is already in your title you can request a court order to rid yourself of it. What you will be required by law to do in order to get the court order is to replace the lien with money. The money will replace the lien and it will be removed. Another order you can request is a consent order which might prove hard to get. This is because the lien holder has to have given consent for the removal of the lien and its replacement with the money.
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