South Dakota Lien Account by Corporation

Category:

Liens - Construction - Mechanics

State:

South Dakota

Control #:

SD-06A-09

Format:

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The Lien Account by Corporation is a legal form that enables a corporation to document its lien claim on a property after completing work or providing materials. This form differs from other lien forms as it specifically outlines the lien claimant's information and the details of the work or materials provided. It is essential for ensuring that the corporation can formally assert its rights to receive payment for its contributions.

Introduction section to identify the lien claimant and their corporation.
Statement of the owner's demand for an itemized account, including the date received.
Detailed itemized account of labor and materials provided, including dates and values.
Declaration of the total lien claim amount.
Contact information for the lien claimant.
Notary section for verification of the claims made.

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This form should be used when a corporation has provided labor or materials for property improvement and needs to formally assert a lien. It is necessary to complete this form within the specified timeframe of fifteen days following the demand from the property owner. Utilizing this form ensures that the corporation's claim is documented and can be enforced if necessary.

This form is intended for:

Corporations that have supplied labor or materials for property improvement.
Representatives of corporations acting on behalf of the lien claimant.
Owners of the property requiring a statement of lien claims from potential lien holders.

To complete the Lien Account by Corporation form, follow these steps:

Identify the lien claimantâs corporation name and representative.
Specify the property involved, including a detailed description of the improvements.
Document the owner's written demand date for the itemized account.
List each item of labor and materials provided, including the dates and values.
Enter the total amount of the lien claim.
Provide the lien claimantâs full name and address, and obtain a notarization.

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Not providing the itemized account within the required fifteen-day timeframe.
Failing to include specific details about the labor and materials provided.
Skipping the notarization process, which might be essential for legal validity.
Incorrectly calculating the total lien claim amount.
Not including accurate contact information for the lien claimant.

Convenient online access to the form allows for quick completion and downloading.
Editable format ensures that all necessary information can be included easily.
Utilizing forms from licensed attorneys adds reliability and legal accuracy.
Quick turnaround ensures that legal matters can be addressed promptly.

The Lien Account by Corporation is crucial for documenting lien claims made by corporations.
Providing a detailed itemized account is necessary for enforcing lien rights.
Timeliness in submitting the itemized statement is essential to preserve legal rights.
Notarization is required to ensure the document's validity.

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Lien Account by Corporation

Note: This summary is not intended to be an all inclusive discussion of South Dakota's construction or mechanic's lien laws, but does include basic provisions.

What is a construction or mechanic's lien?

Every State permits a person who supplies labor or materials for a construction project to claim a lien against the improved property. While some states differ in their definition of improvements and some states limit lien claims to buildings or structures, most permit the filing of a document with the local court that puts parties interested in the property on notice that the party asserting the lien has a claim. States differ widely in the method and time within which a party may act on their lien. Also varying widely are the requirements of written notices between property owners, contractors, subcontractors and laborers, and in some cases lending institutions. As a general rule, these statutes serve to prevent unpleasant surprises by compelling parties who wish to assert their legal rights to put all parties who might be interested in the property on notice of a claim or the possibility of a claim. This by no means constitutes a complete discussion of construction lien law and should not be interpreted as such. Parties seeking to know more about construction laws in their State should always consult their State statutes directly.

Who can claim a lien in this State?

Whoever shall, at the request of the owner or the duly authorized agent or representative of the owner, or of any contractor or subcontractor, furnish skill, labor, services, including light, power, or water, equipment, or materials for the improvement, development, or operation of property as hereinafter specified, shall have a first lien thereon and the appurtenances thereto, prior and superior to all other liens except those of the state or of the United States, and except existing liens, mortgages, or other encumbrances then of record or of which the lien claimant has actual notice, for the price or value of the same, so furnished, subject to the further provisions of South Dakota Lien statutes.

How long does a party have to claim a lien?

The lien shall cease at the end of one hundred and twenty days after doing the last of such work, or furnishing the last item of such skill, services, material, or machinery, unless within such period a statement of the claim therefor be filed with the register of deeds of the county in which the improved premises are situated, or of the county to which such county is attached for judicial purposes, or if the claim be under the provisions of subdivision 44-9-1 (2), with the secretary of state.

How long is a lien good for?

No lien shall be enforced in any case unless the holder thereof shall assert the same, either by complaint or answer, within six years after the date of the last item of his claim as set forth in the filed and entered lien statement; nor shall any person be bound by the judgment in such action unless he is made a party thereto within said six years.

Does this State require or provide for a notice from subcontractors and laborers to property owners?

Yes, several. A subcontractor may serve the property owner with a Statement of Account detailing the amount owed. A contractor may respond by serving the owner with a Notice of Dispute, disputing the amount of the subcontractor's claim. In addition, the time within which to act on a lien may be extended by a subcontractor who files and serves a Notice of Furnishing.

Does this State require or provide for a notice from the property owner to the contractor, subcontractor, or laborers?

The property owner may use a Notice of Nonliability (see below) and may issue a written Demand for Lien Account. Also, an owner may issue a Demand to Commence Suit to a lien claimant. Failure to file suit within thirty (30) days results in the forfeiture of the lien.

Does this State require a notice prior to starting work, or after work has been completed?

Any owner or any person entering into a direct agreement with the owner, or the duly authorized agent or representative of the owner, may file with the register of deeds of the county in which the improved premises are situated a notice of project commencement. The notice shall be filed within thirty days of the commencement of work and shall be accompanied by a filing fee of ten dollars to be deposited in the county's general fund. The register of deeds in each county shall maintain an index of all notices of project commencements.

Does this State permit a person with an interest in property to deny responsibility for improvements?

Yes. Any person who has not authorized the improvement may protect his interests from such liens by serving upon the persons doing the work or otherwise contributing to such improvement, within five days after knowledge thereof, written notice that the improvement is not being made at his instance, or by posting like notice, and keeping the same posted, in a conspicuous place on the premises.

Is a notice attesting to the satisfaction of a lien provided for or required?

Any person who has not authorized the improvement may protect his interests from such liens by serving upon the persons doing the work or otherwise contributing to such improvement, within five days after knowledge thereof, written notice that the improvement is not being made at his instance, or by posting like notice, and keeping the same posted, in a conspicuous place on the premises.

Lien Account by Corporation

Note: This summary is not intended to be an all inclusive discussion of South Dakota's construction or mechanic's lien laws, but does include basic provisions.

What is a construction or mechanic's lien?

Who can claim a lien in this State?

How long does a party have to claim a lien?

How long is a lien good for?

Does this State require or provide for a notice from subcontractors and laborers to property owners?

Does this State require or provide for a notice from the property owner to the contractor, subcontractor, or laborers?

Does this State require a notice prior to starting work, or after work has been completed?

Does this State permit a person with an interest in property to deny responsibility for improvements?

Is a notice attesting to the satisfaction of a lien provided for or required?

South Dakota Lien Account by Corporation

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South Dakota Lien Account by Corporation

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