What You Need To 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. 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.
You should first understand that this kind of claim can be done by anyone who has done any work on your land or property. Sometimes contractors can do this if they feel you are taking them round in circles when it comes to their payment and thus stand a chance of getting their payment. Thus, it is very important to understand the implications of such a claim and take it with a lot of seriousness. 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.
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? 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 even more complex in that there no need of evidence. You should also file within forty five days from the time you stopped working.
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.
If the lien is already in your title you can request a court order to rid yourself of it. 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. 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.