Everything You Need to Know About a Builders Lien

1. EVERYTHING YOU NEED TO KNOW ABOUT A BUILDERS LIEN A builder’s lien can also be referred to as a lien on property. It secures a claim for payment for work done on–or materials provided to–a construction occupation or to get renovations or repairs designed into a existing structure. Every time a lien is registered in the Land Title Office, then it becomes a charge against the title to the house or property involved.

2. Builder’s liens can be an effective instrument to recover outstanding debts owed to builders and material suppliers. But because the law is complex and filing accurately completed forms within the required deadlines is vital, you should have legal advice when fulfilling a contractor lien. The Builders’ Lien Act is designed to offer contractors and suppliers of equipment or materials with safety for payment. The charge produced by the liability is actually a lien against the land (or so the mineral rights) in regard to the materials or services were provided.

3. A lien is deemed to exist from the moment work is started or substances are provided. But a lien expires if it is not filed within the period prescribed by statute. Subject to the exceptions set out below, a lien for materials, wages or services might be registered anytime up to 45 days from the date the last stuff, salary or services were provided or the contract was abandoned, failing which the lien expires. ICON Debt Solutions supplies Builders Lien filing services in many provinces and territories in Canada. In a few states, a Builders Lien is named a Mechanics Lien. In the event that you need to file a lien from a house or property in Canada subsequently the remedy is to submit a Builders Lien.