North Carolina Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds

State:
Multi-State
Control #:
US-01040BG
Format:
Word; 
Rich Text
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Description

The right to execute and deliver a stop notice or a notice to withhold funds is a remedy closely related to a mechanic's lien. When a stop notice or a notice to withhold funds is received by an individual or a firm holding the construction funds for a project, the individual or firm must withhold from its disbursements sufficient money to satisfy the stop notice claim. In this form, the claimant is informing the appropriate court clerk that he has settled the claim and is authorizing the court clerk to discharge of record the Stop Notice.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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FAQ

File a Lawsuit to Vacate the Lien: Finally, property owners in North Carolina can always fight the lien once the contractor files a lawsuit. In North Carolina, a contractor must file a formal lawsuit after filing a mechanic's lien.

How long does a judgment lien last in North Carolina? A judgment lien in North Carolina will remain attached to the debtor's property (even if the property changes hands) for ten years.

About North Carolina Notice of Intent to Lien Form If a party is refusing to pay your claim or ignoring your phone calls, sending a Notice of Intent to Lien to that party, the prime contractor and/or the property owner can let them know you're serious about collecting and prioritize your payment.

This right to enforce a judgment is a property right owned by the creditor. The NC law clearly gives the creditor a 10 year period to enforce his lien and the statutes, N.C.G.S.

In general, there are two types of liens in North Carolina - a claim of lien on funds and a claim of lien on real property. For contractors and others who are owed money on a construction project, liens are a powerful method of ensuring that the money is paid.

Any person who performs or furnishes labor or professional design or surveying services or furnishes materials or furnishes rental equipment pursuant to a contract, either express or implied, with the owner of real property for the making of an improvement thereon shall, upon complying with the provisions of this ...

§ 44A-12(d) ? A Claim of Lien on Property may not be amended; it must be cancelled, and a new lien substituted within 120-day filing timeframe. N.C. Gen. Stat. § 44A-13 ? Lawsuit to enforce Claim of Lien on Property; required to be brought within 180 days of last furnishing.

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North Carolina Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds