All There Is 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. 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. 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. 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 puzzling for some as there are feelings that filing false lien is easy and this has not been easy to some. This is a result that lien can be filed in a false manner and it has resulted to confusion.
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 in your title is ugly and you would want to have it removed. If you go through the right channels and do this the legal way you can redeem yourself. 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. This will remove that burden from your shoulders. Another order you can request is a consent order which might prove hard to get. Without his approval, the consent order will not be given.