Property Lien(aka Mechanics Lien): What Is It And How To Avoid It + Release Of Lien Form

In this video we talk about property liens or more commonly known as Mechanics Liens. What are mechanics liens, what can you do to prevent them and what to do if you get one. I also give away a Lien Release Form: download it here: http://www.nvroofs.com/wp-content/uploads/2014/10/contractors-final-release-and-waiver-of-lien.pdf

Contracting license agencies to verify if the contractor is licensed with your state:
Virginia: http://www.dpor.virginia.gov/LicenseLookup/
Maryland:https://www.dllr.state.md.us/cgi-bin/ElectronicLicensing/OP_search/OP_search.cgi?calling_app=HIC::HIC_qselect
District of Columbia: http://pivs.dcra.dc.gov//BBLV/Default.aspx
Or Google “contractor licence lookup [your state]”

To avoid liens on your home make sure the contract includes:
- A payment schedule that states when specific phases of the work start and end, and the price for each segment from the contractor;
- Put in writing that you require Lien Releases at the time of each payment as part of the contract from the contractor, subcontractors and suppliers for work performed and material supplied to date.
- It should also include the identification of subcontractors or laborers for each segment from the contractor; ask the contractor to sign a lien waiver.
- As well as the identification of material suppliers from your contractor.

After the work is completed but before you pay in full:
- Get a release of lien for the workmanship completed by the contractor and subcontractor, notarized by the contractor, stating that once you pay them in full, they waive any right to file a lien.
- Get a release of lien from the supplier for the material used on your project (it should be on the company's letterhead, not the contractor’s, stating that all the material has been paid for).

You don’t want to pay the balance of the project until you have a lien release signed by your contractor, subcontractors or material supplier because if you pay the contractor in full (but crews or the supplier didn't get paid) and a lien is placed on you home, you will be responsible to satisfy that lien even though you already paid the contract in full.

Видео Property Lien(aka Mechanics Lien): What Is It And How To Avoid It + Release Of Lien Form канала John Francis