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

State:
Texas
City:
Abilene
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.

Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual is a legal document that plays a crucial role in the construction industry. It acts as a protection mechanism for contractors and suppliers to ensure they get paid for their work and supplies on residential construction projects in Abilene, Texas. This disbursement statement is required by contractors when filing mechanics liens on residential construction projects. It serves as a detailed breakdown of all the expenses incurred during the project, including labor costs, materials, equipment rentals, and subcontractor payments. By providing a comprehensive account of the project's financial transactions, this statement allows contractors to demonstrate the value of the work they have completed and the outstanding amounts owed to them. The Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual consists of several key elements: 1. Project Information: This section includes details such as the project's name, address, legal description, and the names of all involved parties, including the owner, contractors, suppliers, and subcontractors. 2. Billing Period: Contractors need to specify the time period covered by the disbursement statement, typically indicating the start and end dates of the construction work. 3. Construction Costs: This part encompasses an itemized breakdown of all costs associated with the construction project. It includes labor expenses, material costs, equipment rentals, delivery charges, and any other relevant expenses. Each item should be clearly described and accompanied by the corresponding dollar amount. 4. Subcontractor Payments: Contractors must outline the payments made to subcontractors for their services. This helps in ensuring all subcontractors are compensated fairly and can assist in preventing any potential disputes related to unpaid subcontractors. 5. Retain age: Retain age refers to a percentage of the contract value that the owner withholds during the project's duration and is released upon completion or substantial completion. The disbursement statement should specify to retain age amount and any supporting documentation related to its release. 6. Certifications: To ensure the accuracy and credibility of the disbursement statement, contractors are required to provide certifications. These may include statements confirming that all work has been completed, all payments have been made to suppliers and subcontractors, and the information provided is accurate and in compliance with relevant regulations. Different types of Abilene Texas Disbursement Statements may vary based on project size, complexity, and other specific requirements. Some variations might include: 1. Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual for Single-Family Homes. 2. Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual for Multi-Family Developments. 3. Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual for Commercial Construction Projects. In summary, Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual is a crucial document that protects the rights of contractors and suppliers on residential construction projects. It provides an accurate breakdown of project costs, subcontractor payments, and other essential financial information. This statement helps contractors ensure proper compensation and facilitate a smooth payment process, reducing the likelihood of disputes and mechanics liens.

Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual is a legal document that plays a crucial role in the construction industry. It acts as a protection mechanism for contractors and suppliers to ensure they get paid for their work and supplies on residential construction projects in Abilene, Texas. This disbursement statement is required by contractors when filing mechanics liens on residential construction projects. It serves as a detailed breakdown of all the expenses incurred during the project, including labor costs, materials, equipment rentals, and subcontractor payments. By providing a comprehensive account of the project's financial transactions, this statement allows contractors to demonstrate the value of the work they have completed and the outstanding amounts owed to them. The Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual consists of several key elements: 1. Project Information: This section includes details such as the project's name, address, legal description, and the names of all involved parties, including the owner, contractors, suppliers, and subcontractors. 2. Billing Period: Contractors need to specify the time period covered by the disbursement statement, typically indicating the start and end dates of the construction work. 3. Construction Costs: This part encompasses an itemized breakdown of all costs associated with the construction project. It includes labor expenses, material costs, equipment rentals, delivery charges, and any other relevant expenses. Each item should be clearly described and accompanied by the corresponding dollar amount. 4. Subcontractor Payments: Contractors must outline the payments made to subcontractors for their services. This helps in ensuring all subcontractors are compensated fairly and can assist in preventing any potential disputes related to unpaid subcontractors. 5. Retain age: Retain age refers to a percentage of the contract value that the owner withholds during the project's duration and is released upon completion or substantial completion. The disbursement statement should specify to retain age amount and any supporting documentation related to its release. 6. Certifications: To ensure the accuracy and credibility of the disbursement statement, contractors are required to provide certifications. These may include statements confirming that all work has been completed, all payments have been made to suppliers and subcontractors, and the information provided is accurate and in compliance with relevant regulations. Different types of Abilene Texas Disbursement Statements may vary based on project size, complexity, and other specific requirements. Some variations might include: 1. Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual for Single-Family Homes. 2. Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual for Multi-Family Developments. 3. Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual for Commercial Construction Projects. In summary, Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual is a crucial document that protects the rights of contractors and suppliers on residential construction projects. It provides an accurate breakdown of project costs, subcontractor payments, and other essential financial information. This statement helps contractors ensure proper compensation and facilitate a smooth payment process, reducing the likelihood of disputes and mechanics liens.

Free preview
  • Form preview
  • Form preview

How to fill out Abilene Texas Disbursement Statement Required By Contractor On Residential Construction Project - Mechanics Liens - Individual?

If you’ve already used our service before, log in to your account and save the Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project - Mechanics Liens - Individual on your device by clicking the Download button. Make certain your subscription is valid. Otherwise, renew it in accordance with your payment plan.

If this is your first experience with our service, adhere to these simple steps to obtain your file:

  1. Ensure you’ve located a suitable document. Read the description and use the Preview option, if any, to check if it meets your requirements. If it doesn’t fit you, utilize the Search tab above to find the appropriate one.
  2. Purchase the template. Click the Buy Now button and choose a monthly or annual subscription plan.
  3. Create an account and make a payment. Utilize your credit card details or the PayPal option to complete the purchase.
  4. Obtain your Abilene Texas Disbursement Statement Required by Contractor on Residential Construction Project - Mechanics Liens - Individual. Select the file format for your document and save it to your device.
  5. Complete your sample. Print it out or take advantage of professional online editors to fill it out and sign it electronically.

You have regular access to each piece of paperwork you have purchased: you can locate it in your profile within the My Forms menu anytime you need to reuse it again. Take advantage of the US Legal Forms service to rapidly locate and save any template for your individual or professional needs!

Trusted and secure by over 3 million people of the world’s leading companies

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