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

State:
Texas
City:
San Antonio
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 San Antonio Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual is a document that contractors are required to submit in certain situations to protect their rights to payment for work and materials provided on a residential construction project. It is a crucial step in the mechanics lien process, which allows contractors to assert their claim against the property if they are not properly compensated. The purpose of this disbursement statement is to provide detailed information about the funds received and disbursed during the construction project. It serves as a transparency tool for all parties involved, including the property owner, contractors, subcontractors, and suppliers. The San Antonio Texas Disbursement Statement includes various key details: 1. Contractor's Information: This section requires the contractor's contact information, including their name, address, phone number, and license number. It is essential for identifying the responsible party for the statement. 2. Project Information: This section includes details about the residential construction project, such as the property address, legal description, and project owner's name. It ensures proper identification of the project under consideration. 3. Description of Work and Materials: Contractors must provide an itemized list of the work performed and materials supplied. This includes detailed descriptions, quantities, unit costs, and total costs for each item. It allows for a clear understanding of the services provided and the associated expenses. 4. Schedule of Values: This section provides a breakdown of the total contract amount based on progress payments. It includes the percentage or dollar amount assigned to different stages or categories of work. This helps in tracking the progress of the project and determining the appropriate amount to be disbursed. 5. Payments Received and Disbursed: Contractors must specify all payments received, including the amount, date, and source of payment (e.g., property owner, lender, etc.). They also need to outline the amounts disbursed to subcontractors, suppliers, and other project-related expenses. This ensures transparency in the handling of funds throughout the project. 6. Retain age Held: Retain age refers to the portion of the payment that is withheld until completion of the project. This section highlights to retain age amount and explains when and how it will be released. It protects contractors' interests by ensuring they receive the remaining payment after successfully completing the project. Different types of San Antonio Texas Disbursement Statements may exist depending on specific project requirements, contractual agreements, or legal considerations. However, the aforementioned key details are generally included in all types to ensure accurate tracking of payments and expenses. By submitting a completed San Antonio Texas Disbursement Statement, contractors can protect their rights under Texas mechanics lien laws and assert their claim against the property if necessary. It is a vital document that promotes transparency, ensures fair compensation, and resolves disputes in residential construction projects.

The San Antonio Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual is a document that contractors are required to submit in certain situations to protect their rights to payment for work and materials provided on a residential construction project. It is a crucial step in the mechanics lien process, which allows contractors to assert their claim against the property if they are not properly compensated. The purpose of this disbursement statement is to provide detailed information about the funds received and disbursed during the construction project. It serves as a transparency tool for all parties involved, including the property owner, contractors, subcontractors, and suppliers. The San Antonio Texas Disbursement Statement includes various key details: 1. Contractor's Information: This section requires the contractor's contact information, including their name, address, phone number, and license number. It is essential for identifying the responsible party for the statement. 2. Project Information: This section includes details about the residential construction project, such as the property address, legal description, and project owner's name. It ensures proper identification of the project under consideration. 3. Description of Work and Materials: Contractors must provide an itemized list of the work performed and materials supplied. This includes detailed descriptions, quantities, unit costs, and total costs for each item. It allows for a clear understanding of the services provided and the associated expenses. 4. Schedule of Values: This section provides a breakdown of the total contract amount based on progress payments. It includes the percentage or dollar amount assigned to different stages or categories of work. This helps in tracking the progress of the project and determining the appropriate amount to be disbursed. 5. Payments Received and Disbursed: Contractors must specify all payments received, including the amount, date, and source of payment (e.g., property owner, lender, etc.). They also need to outline the amounts disbursed to subcontractors, suppliers, and other project-related expenses. This ensures transparency in the handling of funds throughout the project. 6. Retain age Held: Retain age refers to the portion of the payment that is withheld until completion of the project. This section highlights to retain age amount and explains when and how it will be released. It protects contractors' interests by ensuring they receive the remaining payment after successfully completing the project. Different types of San Antonio Texas Disbursement Statements may exist depending on specific project requirements, contractual agreements, or legal considerations. However, the aforementioned key details are generally included in all types to ensure accurate tracking of payments and expenses. By submitting a completed San Antonio Texas Disbursement Statement, contractors can protect their rights under Texas mechanics lien laws and assert their claim against the property if necessary. It is a vital document that promotes transparency, ensures fair compensation, and resolves disputes in residential construction projects.

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