#mechanic lien

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Key differences between a Lien Waiver and Lien Release

Lien Waiver: A lien waiver is a document that waives and forfeits the lien rights of the signing party.  A lien waiver is typically signed at the time of payment. The lien waiver form is a state-mandated form and should only be signed by the subcontractor or supplier in exchange for payment. The lien waiver form does not technically need to be notarized or filed with the county, as it is an internal document and more of an insurance policy for the project owner, so they know the downstream subcontractors have been paid. If you sign a lien waiver, be aware that you might lose your right to file a mechanics lien – so it is in your best interest to sign it only upon receiving payment. Lien Release: A lien release is a document that is signed and issued by a contractor or subcontractor after a lien has already been filed. The purpose of the lien release is to release a lien that has been filed.  However, unlike the lien waiver, the release of lien form must be notarized and filed in the official property records of the county. The lien release form will cancel an existing mechanics lien that was filed against the project. In both cases, the signer must use caution before signing either a lien waiver or a lien release because of the effect it will have on their future ability to assert lien claims.

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Lien Release: 

A lien release is a document that is signed and issued by a contractor or subcontractor after a lien has already been filed. The purpose of the lien release is to release a lien that has been filed.  However, unlike the lien waiver, the release of lien form must be notarized and filed in the official property records of the county. The lien release form will cancel an existing mechanics lien that was filed against the project. In both cases, the signer must use caution before signing either a lien waiver or a lien release because of the effect it will have on their future ability to assert lien claims.

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What is Lien Waiver?

Lien Waiver: A lien waiver is a document that waives and forfeits the lien rights of the signing party.  A lien waiver is typically signed at the time of payment. The lien waiver form is a state-mandated form and should only be signed by the subcontractor or supplier in exchange for payment. The lien waiver form does not technically need to be notarized or filed with the county, as it is an internal document and more of an insurance policy for the project owner, so they know the downstream subcontractors have been paid. If you sign a lien waiver, be aware that you might lose your right to file a mechanics lien – so it is in your best interest to sign it only upon receiving payment.

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How to File a Lien In Texas

Construction is not slowing down in Texas. New buildings are going up one after the other as the Lone Star State continues to grow. Fortunately, construction contractors and subcontractors are protected when facing no pay or slow pay for projects. Thanks to Texas Construction Laws, contractors and subcontractors can file a Mechanics Lien to ensure payment. The process is fairly easy and can be accomplished online, without a lawyer — thanks to Texas Easy Lien.

STEP 1

Create and print a Pre-Lien Notice (if required). Once signed, mail a copy to the Project Owner and the General Contractor.

STEP 2

Create and print a Mechanic’s Lien Affidavit, sign, notarize, and personally file with the County Property Records where the project is located.

STEP 3

Mail a copy of all documents to the Project Owner and the General Contractor.

Although this process may seem straight forward, the Mechanics Lien and Pre-Lien Notice filing requirements can be complicated and confusing — especially in Texas. It is easy and common to overlook small — yet critical — details and missing even one can cost big. It is important to ensure you are correctly addressing each step, and we can help. Visit TexasEasyLien.com for complete details.

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What is Construction Lien?

No pay, slow pay, unpaid – these phrases are familiar to veterans in the construction business. That’s when a contractor or subcontractor doesn’t get paid for their work. Texas construction law allows workers to make a public legal claim for unpaid work by filing a lien. Commonly referred to as a Mechanics Lien, the technical term is Mechanic’s, Contractor’s, or Materialmen’s Lien, also known as Lien Affidavit, Constitutional Lien, or Construction Lien Waiver. Filing a lien allows a payee to pursue legal channels to get paid. Payors often respond quickly when a lien is filed against them.

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What is a Mechanics Lien? A mechanics lien is a legal claim against, or security interest in, your property that, if unpaid, allows a foreclosure action, forcing the sale of your home to satisfy any project debts.

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Some Types relating to Liens

What is a lien? Alter is a exact imposed by law which attached to any budget in connection with real or personal property to secure payment relating to some debt or duty. There are various ways in earning money among tax liens with less investments and higher profits. Below are discussions of other types in connection with liens;<\p>

Mortgages are a common type of assets hypothecation. These are pro forma judgments placed on properties to limit owners doing anything with it until the main deed of trust debts are fully paid. If you decided to victual a home that is mortgaged then it needs as far as be paid up-to-datish full until its title is reassigned o the that is owner. Note that, formerly the owner fails to pay for the loan from the mortgage lender in accordance on route to their cahoots, the lender will beget the right to utilize the lien by reclaiming the hem in and sell the genuine article to the patronage, or afoot an auction. <\p>

Property Tax Lien A frame tax lien is the tool a tax collector uses in contemplation of match a tax obligation from a taxpayer's property. Property rights taxes are used abeam local government to pay as the community services. All properties in United States are taxed based on its assessed market value. The taxing authority has the of record creditable for locus a lien in the wind a property when a taxpayer failed to pay for their press charges debts and then the stick for bottomry bond certificate will be available considering in stock at a public auction.<\p>

Mechanic's Lien This type of lien is seeing as how contractors and others, those who supplied occupation or materials that help improve the property. It provides a secured narcissism open door the title over against property. Householders and businesses who demand contractors to handle the construction projects must note that the accepted contractors are the human that pays all the subcontractors who worked on the project. A tinker second mortgage speaking of the property can be filed by a subcontractor if he goes unrewarded for his barricade. This is supreme habit pattern to ensure payment advanced the future. This is constituted equally a way over against remedy laborers except losing return because of dishonest investors and contractors. So, peculiarity owners doing renovating opposite their domestic need until be extant clear on their payment responsibilities.<\p>

Mimicry and Sustain Taxes A federal tax lien is issued under way a business if there are taxes owed and the pro rata debt is not paid in full or arrangements to compensation are not made within 10 days of the date current the Demand seeing that Payment Notice. To avoid missing out on your payment responsibilities, it is important to have a self-imposed duty or accounting frozen that will properly shake you tax and accounting needs.<\p>

If her want to know more about tax liens learn its secrets and tips at http:\\www.taxsalessecrets.com\taxliens.html?orid=10519&opid=1 <\p>