Judgment Lien Form For Construction

Category:

Civil Procedure - Releases

State:

Multi-State

Control #:

US-OG-543

Format:

Instant download

Description

The Judgment Lien Form for Construction is a legal document that allows lienholders to partially release a judgment lien against specific property owned by a debtor. This form is critical for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction or real estate transactions. It enables users to clarify which property is being released from a judgment lien while maintaining the lien on any other properties owned by the debtor. Filling out the form requires specific details, such as the original judgment amount, related costs, and accurate property descriptions. Users must ensure that the form is acknowledged in front of a notary to make it legally binding. This form effectively helps manage and mitigate financial risks associated with construction projects by formalizing the release of liens. It is particularly useful in situations where property is sold or refinanced, allowing for partial lien removal. It is important for users to understand that this form does not signify payment of the judgment and maintains the lien on any other properties owned by the debtor.

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FAQ

Fill out your lien form with complete, accurate details. Bring your Affidavit of Lien to the county recorder's office in the county where the property is located, and pay the lien recording fee. After recording a Texas mechanics lien, claimants must provide notice to the property owner and GC within 5 days of filing.

File a Texas Bond Claim LienItNow.com prepares, files and serves Texas Bond Claims for a fee of $275.00. Bond claims can only be filed on a project where the owner, contractor or subcontractor has obtained a payment bond to ensure that every contractor receives payment for the work performed on the Project.

For a residential construction project, you must file the lien affidavit no later than the 15th day of the 3rd month after the day the indebtedness accrues. Indebtedness accrues on the last day of the month when the original contract is (a) terminated, (b) completed, (c) finally settled, or (d) abandoned.

The Creditor must either file the Satisfaction of Judgment with the County Clerk, or provide it to the Debtor so that the Debtor may file it with the County Clerk. The Satisfaction of Judgment must also be filed with the City Court. If the Satisfaction of Judgment is generated by the Court, there is a fee.

Step 1: Determine if A Preliminary Notice is Required.Step 2: Complete the Claim for Mechanics Lien and Required Notice of Lien.Step 3: Serve the Claim for Mechanics Lien and Complete the Proof of Service.Step 4: Record the Mechanics Lien, Required Notice of Lien, and Proof of.