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

State:
Texas
City:
Edinburg
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.

The Edinburg Texas Disbursement Statement Required by Contractor on Residential Construction Project is a crucial document in the process of mechanics liens for individuals in the state of Texas. This statement outlines the financial disbursement details, ensuring transparency and safeguarding the rights of contractors and subcontractors involved in residential construction projects. The disbursement statement serves as proof of payment for contractors and subcontractors, ensuring that they receive their rightful compensation throughout the construction project. It is a legal requirement aimed at protecting the interests of all parties involved. The Edinburg Texas Disbursement Statement may vary depending on the type of construction project or the party involved. Here are the different types of disbursement statements that can be required: 1. General Contractor Disbursement Statement: This statement is prepared and submitted by the general contractor overseeing the residential construction project in Edinburg, Texas. It itemizes the payments made to subcontractors, suppliers, and vendors involved in the project. 2. Subcontractor Disbursement Statement: Subcontractors who have been hired by the general contractor to complete specific tasks or provide specialized services also need to submit their own disbursement statement. This statement outlines the payments received for their work on the residential construction project. 3. Supplier Disbursement Statement: Suppliers who provide materials or resources required for the construction project may also be required to submit a disbursement statement. This document specifies the payments received for the materials supplied to the project. The Edinburg Texas Disbursement Statements are crucial for maintaining a transparent and accountable payment process in residential construction projects. They help prevent disputes and ensure that everyone involved in the project receives fair compensation for their services. Adhering to the legal requirements for disbursement statements is essential to protect the rights and financial interests of contractors, subcontractors, and suppliers in Edinburg.

The Edinburg Texas Disbursement Statement Required by Contractor on Residential Construction Project is a crucial document in the process of mechanics liens for individuals in the state of Texas. This statement outlines the financial disbursement details, ensuring transparency and safeguarding the rights of contractors and subcontractors involved in residential construction projects. The disbursement statement serves as proof of payment for contractors and subcontractors, ensuring that they receive their rightful compensation throughout the construction project. It is a legal requirement aimed at protecting the interests of all parties involved. The Edinburg Texas Disbursement Statement may vary depending on the type of construction project or the party involved. Here are the different types of disbursement statements that can be required: 1. General Contractor Disbursement Statement: This statement is prepared and submitted by the general contractor overseeing the residential construction project in Edinburg, Texas. It itemizes the payments made to subcontractors, suppliers, and vendors involved in the project. 2. Subcontractor Disbursement Statement: Subcontractors who have been hired by the general contractor to complete specific tasks or provide specialized services also need to submit their own disbursement statement. This statement outlines the payments received for their work on the residential construction project. 3. Supplier Disbursement Statement: Suppliers who provide materials or resources required for the construction project may also be required to submit a disbursement statement. This document specifies the payments received for the materials supplied to the project. The Edinburg Texas Disbursement Statements are crucial for maintaining a transparent and accountable payment process in residential construction projects. They help prevent disputes and ensure that everyone involved in the project receives fair compensation for their services. Adhering to the legal requirements for disbursement statements is essential to protect the rights and financial interests of contractors, subcontractors, and suppliers in Edinburg.

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