A North Carolina Assignment of Lien by General Contractor refers to the legal process through which a general contractor transfers their rights and interests in a property lien to another party. This assignment typically occurs when a general contractor wants to transfer their right to claim a lien against a property to another individual or entity. The purpose of such an assignment is to allow the new party to pursue the collection of outstanding debts owed for construction or improvement work on the property. In North Carolina, there are mainly two types of Assignment of Lien by General Contractor: 1. Voluntary Assignment: This type of assignment occurs when a general contractor willingly transfers their lien rights to another party. It is commonly used when the general contractor wants to delegate the responsibility of collecting payment or when they have reached a mutually agreed settlement with the property owner. A voluntary assignment typically involves a written agreement between the general contractor and the assignee, where specific terms and conditions are defined. 2. Involuntary Assignment: Unlike the voluntary assignment, an involuntary assignment occurs when the lien rights are transferred without the consent of the general contractor. This may happen in situations where the general contractor becomes bankrupt, insolvent, or fails to fulfill their obligations, causing a court-appointed receiver or trustee to take control of their financial affairs. In such cases, the court may authorize the assignment of the general contractor's lien rights to enable the assignee to seek payment for the outstanding debts. Both types of assignments require certain legal procedures to be followed to ensure their validity and enforceability. The North Carolina Assignment of Lien by General Contractor must be documented in writing, signed by all relevant parties involved, and filed with the appropriate county or district office. It is crucial to accurately detail the property information, outstanding debts, and the rights being assigned to the assignee. If a general contractor wishes to transfer their lien rights to another party in North Carolina, it is highly recommended consulting with a qualified attorney specializing in construction law to ensure compliance with all legal requirements and to protect their interests. An attorney can guide them through the assignment process, draft the necessary documents, and help them understand the implications of assigning their lien rights. In summary, a North Carolina Assignment of Lien by General Contractor involves the transfer of a general contractor's right to claim a lien against a property to another party. Whether voluntary or involuntary, proper documentation and legal procedures must be followed to enforce the assignment. Seeking legal advice is essential to ensure compliance with the law and to protect all parties' interests involved in the assignment process.
North Carolina Assignment of Lien by General Contractor
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§ 44A-23. Contractor's claim of lien on real property; perfection of subrogation rights of subcontractor. § 44A-24. False statement a misdemeanor and grounds for disciplinary action against a licensed contractor or qualifying party.
To select a lien agent, an owner (or contractor, depending on the relationship), simply selects a lien agent from the pre-approved list and describes the project and identifies the address.
A: The filing fee for an Appointment of Lien Agent is $30 for a 1-2 Family Dwelling and $58 for any Other property type. Q: Which lien agent should I appoint to my project? A: Any of the authorized Lien Agents can be appointed to your project.
? All claims of lien on real property must be filed in the office of the clerk of superior court in each county where the real property subject to the claim of lien on real property is located.
As a result, pursuant to North Carolina law, any owner who contracts for work of at least $30,000, must designate a lien agent to receive notice from potential lien claimants.
In North Carolina, a lien agent is a title insurance company or agency that must be notified prior to filing a mechanic's lien. General Statute 44A-11.1 requires a lien agent to be appointed by an owner on projects that are valued at $30,000 or more.
In North Carolina, a lien claimant has 120 days from the date of last furnishing to complete these 3 steps: Fill out a mechanics lien form that meets NC requirements. ... File the lien with the county recorder's office. ... Serve a copy of the lien on the property owner.
In North Carolina, a lien claimant has 120 days from the date of last furnishing to complete these 3 steps: Fill out a mechanics lien form that meets NC requirements. ... File the lien with the county recorder's office. ... Serve a copy of the lien on the property owner.