What You Need 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. It allows contractors and suppliers to raise a claim that can lead to the foreclosure of your property. Find below a few things you should know about the builder’s lien in Alberta.
First it is any contractor or supplier that is entitled to raise a claim as long there was work done on your property or land. This happens when a contractor feels like there is no other way to handle the payment issue with you. 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. 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. It is crucial to also note that many people have found it perplexing since it has its downside. 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. From the time you stopped working you should file within a period of forty five days.
Having a lien placed on your property is not the end of the road for you because it is not permanent. 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. A builders’ lien has to be proven for it to be valid, if you prove beyond reasonable doubt that you are being wrongly accused then you can dodge that bullet.
If you acknowledge that this was done correctly then you can go to court and appeal to get a court order. 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. With a consent order, you need consent from the lien holder. Without his approval, the consent order will not be given.