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

State:
Texas
City:
Laredo
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.

When undertaking a residential construction project in Laredo, Texas, contractors are required to provide a Laredo Texas Disbursement Statement. This statement is crucial for the mechanics lien process and ensures transparency and accountability in the payment disbursement process. The Laredo Texas Disbursement Statement outlines the detailed breakdown of payments made to subcontractors, suppliers, and laborers involved in the project. By providing this statement, contractors help protect themselves and property owners from potential mechanics liens and legal disputes related to non-payment. There are different types of Laredo Texas Disbursement Statements Required by Contractors on Residential Construction Projects. They include: 1. Preliminary Laredo Texas Disbursement Statement: This statement is typically provided at the beginning of the project and details the estimated costs and disbursement plan. It outlines the scheduled payments to subcontractors, suppliers, and laborers based on the project timeline and anticipated expenses. 2. Progress Laredo Texas Disbursement Statement: This statement is provided periodically throughout the project and reflects the actual costs incurred and the current disbursement plan. It outlines the payments made to date, the remaining payments to be made, and any changes in the payment schedule or expenses. 3. Final Laredo Texas Disbursement Statement: This statement is provided upon completion of the project and represents the final costs and disbursement plan. It includes all payments made, any outstanding payments, and any adjustments made during the construction process. The final disbursement statement is essential for releasing final payments and closing out the project. The Laredo Texas Disbursement Statement Required by Contractors on Residential Construction Projects is a crucial document that ensures compliance with the mechanics lien laws and promotes fair and timely payment practices. It provides transparency and clarity for all parties involved and helps maintain a smooth construction process. Contractors should ensure they understand the specific requirements and deadlines associated with these disbursement statements to avoid potential legal issues and protect their rights.

When undertaking a residential construction project in Laredo, Texas, contractors are required to provide a Laredo Texas Disbursement Statement. This statement is crucial for the mechanics lien process and ensures transparency and accountability in the payment disbursement process. The Laredo Texas Disbursement Statement outlines the detailed breakdown of payments made to subcontractors, suppliers, and laborers involved in the project. By providing this statement, contractors help protect themselves and property owners from potential mechanics liens and legal disputes related to non-payment. There are different types of Laredo Texas Disbursement Statements Required by Contractors on Residential Construction Projects. They include: 1. Preliminary Laredo Texas Disbursement Statement: This statement is typically provided at the beginning of the project and details the estimated costs and disbursement plan. It outlines the scheduled payments to subcontractors, suppliers, and laborers based on the project timeline and anticipated expenses. 2. Progress Laredo Texas Disbursement Statement: This statement is provided periodically throughout the project and reflects the actual costs incurred and the current disbursement plan. It outlines the payments made to date, the remaining payments to be made, and any changes in the payment schedule or expenses. 3. Final Laredo Texas Disbursement Statement: This statement is provided upon completion of the project and represents the final costs and disbursement plan. It includes all payments made, any outstanding payments, and any adjustments made during the construction process. The final disbursement statement is essential for releasing final payments and closing out the project. The Laredo Texas Disbursement Statement Required by Contractors on Residential Construction Projects is a crucial document that ensures compliance with the mechanics lien laws and promotes fair and timely payment practices. It provides transparency and clarity for all parties involved and helps maintain a smooth construction process. Contractors should ensure they understand the specific requirements and deadlines associated with these disbursement statements to avoid potential legal issues and protect their rights.

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