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

State:
Texas
City:
Brownsville
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 Brownsville, Texas, a Disbursement Statement is a crucial document required by contractors for residential construction projects, specifically when dealing with mechanics liens from individuals. This statement serves as a detailed record of all expenses and payments made throughout the construction process. By providing this document to the property owner or individual client, the contractor outlines the financial aspects of the project and ensures transparency. The Brownsville Texas Disbursement Statement includes various key components such as: 1. Project Details: The statement starts with essential project information, such as the property's address, legal description, and the names of all involved parties, including contractor and property owner. 2. Summary of Costs: Contractors provide a comprehensive breakdown of the project's total costs, including labor, materials, permits, subcontractors, insurance, and any other expenses related to construction. 3. Invoices and Payments: This section includes a detailed list of all invoices issued to the client throughout the construction process. It highlights invoice numbers, dates, descriptions of services, and the corresponding amounts owed. 4. Change Orders: If any modifications or change orders were made during the project, they will be documented separately. This clarifies any adjustments made to the original project scope and cost. 5. Payments Made: The Disbursement Statement outlines all payments received by the contractor in chronological order. Each payment is recorded with the date received, payment method, invoice number, and amount credited. 6. Outstanding Balances: In the case of unpaid invoices or outstanding balances, contractors disclose any amounts still owed by the client. This information allows both parties to stay informed about the financial status of the project. 7. Lien Waivers: When collecting payment, contractors may require clients to sign lien waivers. These waivers protect the property owner from potential mechanics liens by subcontractors or material suppliers. Each signed waiver should be attached to the Disbursement Statement. Different variations of the Brownsville Texas Disbursement Statement may exist depending on the specific circumstances and parties involved. For example: — Subcontractor Disbursement Statement: Required when subcontractors are involved in the project. This statement outlines expenses and payments specific to subcontractors and any potential lien waivers obtained from them. — Material Supplier Disbursement Statement: If there are separate material suppliers, this statement records details of expenses and payments related solely to suppliers, along with corresponding lien waivers. — Property Owner Disbursement Statement: Contractors may provide this statement to the property owner individually, summarizing all financial aspects related to their project, including expenses, payments, and outstanding balances. Overall, the Brownsville Texas Disbursement Statement is a crucial document for contractors and property owners alike, ensuring transparency and accountability throughout the construction process while mitigating the risk of mechanics liens.

In Brownsville, Texas, a Disbursement Statement is a crucial document required by contractors for residential construction projects, specifically when dealing with mechanics liens from individuals. This statement serves as a detailed record of all expenses and payments made throughout the construction process. By providing this document to the property owner or individual client, the contractor outlines the financial aspects of the project and ensures transparency. The Brownsville Texas Disbursement Statement includes various key components such as: 1. Project Details: The statement starts with essential project information, such as the property's address, legal description, and the names of all involved parties, including contractor and property owner. 2. Summary of Costs: Contractors provide a comprehensive breakdown of the project's total costs, including labor, materials, permits, subcontractors, insurance, and any other expenses related to construction. 3. Invoices and Payments: This section includes a detailed list of all invoices issued to the client throughout the construction process. It highlights invoice numbers, dates, descriptions of services, and the corresponding amounts owed. 4. Change Orders: If any modifications or change orders were made during the project, they will be documented separately. This clarifies any adjustments made to the original project scope and cost. 5. Payments Made: The Disbursement Statement outlines all payments received by the contractor in chronological order. Each payment is recorded with the date received, payment method, invoice number, and amount credited. 6. Outstanding Balances: In the case of unpaid invoices or outstanding balances, contractors disclose any amounts still owed by the client. This information allows both parties to stay informed about the financial status of the project. 7. Lien Waivers: When collecting payment, contractors may require clients to sign lien waivers. These waivers protect the property owner from potential mechanics liens by subcontractors or material suppliers. Each signed waiver should be attached to the Disbursement Statement. Different variations of the Brownsville Texas Disbursement Statement may exist depending on the specific circumstances and parties involved. For example: — Subcontractor Disbursement Statement: Required when subcontractors are involved in the project. This statement outlines expenses and payments specific to subcontractors and any potential lien waivers obtained from them. — Material Supplier Disbursement Statement: If there are separate material suppliers, this statement records details of expenses and payments related solely to suppliers, along with corresponding lien waivers. — Property Owner Disbursement Statement: Contractors may provide this statement to the property owner individually, summarizing all financial aspects related to their project, including expenses, payments, and outstanding balances. Overall, the Brownsville Texas Disbursement Statement is a crucial document for contractors and property owners alike, ensuring transparency and accountability throughout the construction process while mitigating the risk of mechanics liens.

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