What Is A Lien and How Can You Get A Lien Waiver?
Since contractors engaged by you may feel that there is no guarantee that they will receive. Their due payments after completing the job can invoke something called a mechanic’s lien. Which is a claim against the property. It is important to have a proper understanding of how liens work. And also how you can get a waiver to reduce.
Understanding the Concept of a Lien
When a tradesperson has been engag to carry out some work. In your home such as plumbing. Carpentry, mold removal, etc., they will need an assurance that they will be paid after the job is completed. A on the property is the guarantee against potential default in payment. This means they can move the courts for the disposal of your property to ensure that they receive their dues. This kind of lien can also be created even if the worker has not been hired by you directly. But by a contractor to cover a situation where the contractor fails to pay them for their effort.
Why Is Lien Potentially Hazardous?
However, since the home improvement has taken place with the efforts of the subcontractor, the claim for payment is valid. Click here to find details on some affordable attorneys who deal with liens. The problem can arise when the subcontractor asks the homeowner. To make good the due payment and also the homeowner refuses on the ground. According to https://www.washingtonpost.com, a mechanic’s lien can result in your being forced to sell your home to discharge the debt.
When Should A Lien Waiver Be Used?
Adopting a lien waiver is perhaps the best method that homeowners can use to protect themselves from a legal tangle. A waiver is a simple document that the subcontractor accepts. Which states that the subcontractor has been paid in full, no money is due, and also he waives his right to put a lien on your property.
All the individual waivers from his subcontractors, however, you should check for full compliance as you make the payments. Liens can also be filed in case of a divorce where one party retains. A claim on the property despite moving out of the home and also in cases of child support, where a against the property of the person owing the money can be filed.
Conclusion
To protect yourself from claims, you should invariably take recourse to lien waivers. However, if a claim on a lien on your property has been filed, you should ensure that you collect a lien release that ensures the cancellation of all lien claims after the payment is made to the lienholder.