Difference between revisions of "Builders Liens"

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{{REVIEWEDPLS | reviewer = [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Garapathi Law group|date= July 2018}} {{Dial-A-Law TOC|expanded = home}}
{{REVIEWEDPLS | reviewer = [https://www.ganapathico.com/our-team/anna-kurt/ Anna Kurt], Garapathi Law group|date= July 2018}} {{Dial-A-Law TOC|expanded = home}}
Occasionally, those who work or supply materials on a construction project aren’t paid for the work or materials supplied. A “builders lien” can help them collect the money they’re owed.
Occasionally, those who work or supply materials on a construction project aren’t paid for the work or materials supplied. A “'''builders lien'''” can help them collect the money they’re owed.


==Understand the legal framework==
==Understand the legal framework==
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The ''Builders Lien Act'' says that money received by a contractor or subcontractor for work done constitutes a “'''trust fund'''” for the benefit of people they hire on the project. Trust funds cannot be used to the personal benefit of a contractor or subcontractor until they pay the people they hire on the project. A contractor or subcontractor who does not follow these trust rules may be personally liable for '''breach of trust'''. This is sometimes a way for lien claimants who are not fully paid using their lien rights to recover further amounts owed to them.
The ''Builders Lien Act'' says that money received by a contractor or subcontractor for work done constitutes a “'''trust fund'''” for the benefit of people they hire on the project. Trust funds cannot be used to the personal benefit of a contractor or subcontractor until they pay the people they hire on the project. A contractor or subcontractor who does not follow these trust rules may be personally liable for '''breach of trust'''. This is sometimes a way for lien claimants who are not fully paid using their lien rights to recover further amounts owed to them.


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