Corpus Christi Texas Disbursement Statement Required by Contractor on Residential Construction Project - Mechanics Liens - Individual

State:
Texas
City:
Corpus Christi
Control #:
TX-016-09
Format:
Word; 
Rich Text
Instant download

Description

This Texas Mechanics Lien form is for use in collecting payment for work done. At the time the original contractor requests payment from the owner or the owner's lender for the construction of improvements under a residential construction contract, the original contractor shall provide to the owner a disbursement statement. The statement may include any information agreed to by the owner and the original contractor and must include at least the name and address of each person who subcontracted directly with the original contractor and who the original contractor intends to pay from the requested funds. The original contractor shall provide the disbursement statement: (1) in the manner agreed to in writing by the owner and original contractor; or (2) if no agreement exists, by depositing the statement in the United States mail, first class, postage paid, and properly addressed to the owner or by hand delivering the statement to the owner before the original contractor receives the requested funds. The failure of an original contractor to comply with this section does not invalidate a lien under this chapter, a contract lien, or a deed of trust. A person commits an offense if the person intentionally, knowingly, or recklessly provides false or misleading information in a disbursement statement required under this section. An offense under this section is a misdemeanor. A person adjudged guilty of an offense under this section shall be punished by a fine not to exceed $4,000 or confinement in jail for a term not to exceed one year or both a fine and confinement. A person may not receive community supervision for the offense.§ 53.258.

In Corpus Christi, Texas, contractors working on residential construction projects must adhere to specific regulations regarding disbursement statements, especially concerning mechanics liens. These statements are crucial in protecting the rights and interests of contractors, subcontractors, suppliers, and property owners involved in the construction process. Contractors must provide accurate, detailed, and timely disbursement statements to ensure fair and transparent financial transactions. Let's explore the various types of Corpus Christi Texas Disbursement Statement Required by Contractors on Residential Construction Projects. 1. Preliminary Notice Disbursement Statement: Contractors in Corpus Christi are generally required to submit a preliminary notice disbursement statement before commencing work on residential construction projects. This statement outlines the intended disbursement schedule, including stages of construction, anticipated costs, and estimated timelines. It serves as a formal notification to property owners and aligns expectations regarding financial transactions. 2. Monthly Disbursement Statement: Throughout the construction project's duration, contractors are mandated to provide monthly disbursement statements in Corpus Christi. These statements detail the actual disbursements made during that specific month, itemizing the expenses related to labor, materials, permits, utilities, subcontractors, and more. These regular statements allow property owners to track project costs and ensure that all disbursements align with the agreed-upon contract. 3. Final Disbursement Statement: Upon completion of the residential construction project, contractors must issue a final disbursement statement in Corpus Christi. This statement summarizes all the expenses incurred, including any change orders or additional work completed. It serves as a comprehensive record of all the disbursements made throughout the project and provides clarity to property owners on the overall financial transactions. 4. Mechanics Lien Disbursement Statement: When a contractor or supplier files a mechanics lien against a property due to unpaid bills, a specific type of disbursement statement becomes necessary in Corpus Christi. This statement, often required by law or legal proceedings, details the unpaid balance and outlines the basis for the mechanics lien claim. It helps resolve any disputes by presenting a clear account of outstanding payments owed. It is essential for contractors to understand and adhere to the specific disbursement statements required by law in Corpus Christi, Texas. Failure to comply with these requirements can have legal repercussions and may adversely affect a contractor's ability to collect payment for services rendered. By diligently preparing and providing accurate disbursement statements, contractors contribute to a transparent construction process, fostering trust among all parties involved in the residential construction project.

In Corpus Christi, Texas, contractors working on residential construction projects must adhere to specific regulations regarding disbursement statements, especially concerning mechanics liens. These statements are crucial in protecting the rights and interests of contractors, subcontractors, suppliers, and property owners involved in the construction process. Contractors must provide accurate, detailed, and timely disbursement statements to ensure fair and transparent financial transactions. Let's explore the various types of Corpus Christi Texas Disbursement Statement Required by Contractors on Residential Construction Projects. 1. Preliminary Notice Disbursement Statement: Contractors in Corpus Christi are generally required to submit a preliminary notice disbursement statement before commencing work on residential construction projects. This statement outlines the intended disbursement schedule, including stages of construction, anticipated costs, and estimated timelines. It serves as a formal notification to property owners and aligns expectations regarding financial transactions. 2. Monthly Disbursement Statement: Throughout the construction project's duration, contractors are mandated to provide monthly disbursement statements in Corpus Christi. These statements detail the actual disbursements made during that specific month, itemizing the expenses related to labor, materials, permits, utilities, subcontractors, and more. These regular statements allow property owners to track project costs and ensure that all disbursements align with the agreed-upon contract. 3. Final Disbursement Statement: Upon completion of the residential construction project, contractors must issue a final disbursement statement in Corpus Christi. This statement summarizes all the expenses incurred, including any change orders or additional work completed. It serves as a comprehensive record of all the disbursements made throughout the project and provides clarity to property owners on the overall financial transactions. 4. Mechanics Lien Disbursement Statement: When a contractor or supplier files a mechanics lien against a property due to unpaid bills, a specific type of disbursement statement becomes necessary in Corpus Christi. This statement, often required by law or legal proceedings, details the unpaid balance and outlines the basis for the mechanics lien claim. It helps resolve any disputes by presenting a clear account of outstanding payments owed. It is essential for contractors to understand and adhere to the specific disbursement statements required by law in Corpus Christi, Texas. Failure to comply with these requirements can have legal repercussions and may adversely affect a contractor's ability to collect payment for services rendered. By diligently preparing and providing accurate disbursement statements, contractors contribute to a transparent construction process, fostering trust among all parties involved in the residential construction project.

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Corpus Christi Texas Disbursement Statement Required by Contractor on Residential Construction Project - Mechanics Liens - Individual