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. 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.
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. 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. For a supplier to use this claim, the material he or she has supplied must have already been used up on the property or the land in a bid to improve it.
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. 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. And it is imperative to file within forty five days since the last day you stopped working as stated in the statutes.
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. The good news is that by talking to the right people and doing what the law requires you can get rid of it. 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. When you do that the lien will no longer be a problem because the money will stand for it. 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.