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

State:
Texas
City:
McAllen
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 McAllen Texas Disbursement Statement is a crucial document required by contractors on residential construction projects, particularly when dealing with mechanics liens filed by individuals. This statement provides a detailed breakdown of expenses, payments, and disbursements made throughout the project. Contractors must prepare and present this statement to protect their rights and ensure transparency in financial transactions. There are various types of McAllen Texas Disbursement Statements that may be required by contractors, depending on the specifics of the construction project and the mechanics lien filings: 1. Preliminary McAllen Texas Disbursement Statement: This statement is typically submitted at the start of the project and provides an initial estimation of costs and disbursements. It outlines the projected expenses, budget allocation, and the breakdown of funds necessary for the project's completion. 2. Monthly McAllen Texas Disbursement Statement: This statement is updated throughout the project duration, typically on a monthly basis. It details the actual expenses and payments made during each month, including costs for labor, materials, subcontractors, and any other pertinent expenditures. 3. Final McAllen Texas Disbursement Statement: This statement is prepared at the end of the residential construction project, summarizing the total disbursements made and providing a comprehensive overview of all financial transactions. It ensures that all parties involved have a clear understanding of the project's financial status upon completion. Each of these McAllen Texas Disbursement Statements is essential for contractors to maintain accurate records and resolve any potential disputes regarding mechanics liens. By including relevant keywords such as "McAllen Texas Disbursement Statement," "contractor," "residential construction project," "mechanics liens," and "individual," we can generate content specifically tailored to this topic.

The McAllen Texas Disbursement Statement is a crucial document required by contractors on residential construction projects, particularly when dealing with mechanics liens filed by individuals. This statement provides a detailed breakdown of expenses, payments, and disbursements made throughout the project. Contractors must prepare and present this statement to protect their rights and ensure transparency in financial transactions. There are various types of McAllen Texas Disbursement Statements that may be required by contractors, depending on the specifics of the construction project and the mechanics lien filings: 1. Preliminary McAllen Texas Disbursement Statement: This statement is typically submitted at the start of the project and provides an initial estimation of costs and disbursements. It outlines the projected expenses, budget allocation, and the breakdown of funds necessary for the project's completion. 2. Monthly McAllen Texas Disbursement Statement: This statement is updated throughout the project duration, typically on a monthly basis. It details the actual expenses and payments made during each month, including costs for labor, materials, subcontractors, and any other pertinent expenditures. 3. Final McAllen Texas Disbursement Statement: This statement is prepared at the end of the residential construction project, summarizing the total disbursements made and providing a comprehensive overview of all financial transactions. It ensures that all parties involved have a clear understanding of the project's financial status upon completion. Each of these McAllen Texas Disbursement Statements is essential for contractors to maintain accurate records and resolve any potential disputes regarding mechanics liens. By including relevant keywords such as "McAllen Texas Disbursement Statement," "contractor," "residential construction project," "mechanics liens," and "individual," we can generate content specifically tailored to this topic.

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