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Things You Should Know About The Builder’s Lien In Alberta.
The city of Alberta has an Act designed to protect its contractors and suppliers known as the builder’s lien. Contractors and suppliers of material can foreclose on property if they have a case against you on issues regarding 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. Thus, it is very important to understand the implications of such a claim and take it with a lot of seriousness. 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.
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? If the legal ways are not properly followed, there is a risk of lien to lapse after a hundred and eighty days. It is crucial to also note that many people have found it perplexing since it has its downside. Basically, this is because there is faith that filing an untrue lien is an easy task and does not require much.
It is even more complex in that there no need of evidence. 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 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. 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.
A court order can be your ticket to getting rid of the lien from your property. 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.
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