A Virginia Assignment of Lien by General Contractor is a legal document used in the construction industry. It allows the general contractor to transfer their rights to a lien on a property to another party. This transfer can be made for various reasons, including obtaining financing or settling debts. The assignment of lien serves as a guarantee for the payment of services or materials provided by the general contractor. It gives the contractor the ability to claim a legal interest in the property if the owner fails to make the agreed-upon payments. By assigning the lien, the general contractor effectively transfers their rights to seek payment to the assignee. Some relevant keywords for a Virginia Assignment of Lien by General Contractor could include: — Virginia constructioindustrytr— - General contractor rights — Lien transfe— - Payment guarantee - Financing options — Debsettlementen— - Legal interest in property — Non-payment consequence— - Liens in Virginia — Assignment of lien process Different types of Virginia Assignment of Lien by General Contractor can vary based on the specific circumstances and contractual agreements. Some common variations may include: 1. Full Assignment of Lien: This type involves the complete transfer of the general contractor's rights to a lien, which means they no longer have any claim over the property. 2. Partial Assignment of Lien: In this case, the general contractor may choose to assign only a portion of their lien rights, while retaining a stake in the property. 3. Conditional Assignment of Lien: This type of assignment is contingent upon certain conditions being met, such as the receipt of payment within a specified timeframe. 4. Temporary Assignment of Lien: Here, the general contractor can temporarily transfer their lien rights to another party, usually for the purpose of obtaining financing, but the rights revert to the contractor after fulfillment of specific conditions. It is important to consult with a legal professional to ensure the assignment of lien document is drafted accurately and in compliance with Virginia state laws.
Virginia Assignment of Lien by General Contractor
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How to fill out Virginia Assignment Of Lien By General Contractor?
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Every mechanic who shall alter or repair any article of personal property at the request of the owner of such property shall have a lien thereon for his just and reasonable charges therefor and may retain possession of such property until such charges are paid.
Every innkeeper and the keeper of a boardinghouse or house of private entertainment shall have a lien upon, and may retain possession of, the baggage and other property of his guest or boarder brought upon his premises, and also upon the property of the employer of such guest or boarder, controlled and brought upon the ...
How does a creditor go about getting a judgment lien in Virginia? To attach the lien, the creditor records the judgment on the county recorder's lien docket in any Virginia county where the debtor owns property now or may own property in the future.
You may know that the time limit for filing the mechanic's lien is 90 days from the last day of the month in which the claimant last performed labor or furnished material (last day of work). [1] The claimant must also count backwards 150 days from their last day of their work.
§ 43-13. Funds paid to general contractor or subcontractor must be used to pay persons performing labor or furnishing material.
Any subcontractor or person furnishing labor or material to the general contractor or subcontractor, may give a preliminary notice in writing to the owner or his agent or the general contractor, stating the nature and character of his contract and the probable amount of his claim.
Every keeper of a livery stable, hangar, tie-down, or marina, and every person pasturing or keeping any horses or other animals, boats, aircraft, or harness, shall have a lien upon such horses and other animals, boats, aircraft, and harness, for the amount that may be due him for the towing, storage, recovery, keeping, ...
Sufficiency of memorandum, affidavit and notice required by § 43-9. The memorandum, affidavit and notice required by § 43-9 shall be sufficient if substantially in form and effect as follows: Memorandum for Mechanic's Lien Claimed by Sub-subcontractor.