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

State:
Texas
County:
Travis
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.

Travis Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual: In the state of Texas, it is vital for contractors working on residential construction projects to understand the Travis Texas Disbursement Statement requirements related to mechanics liens. Mechanics liens serve as a means for contractors to ensure they are paid for the work they have completed. The Travis Texas Disbursement Statement is a crucial document used to provide proper documentation of payments made to subcontractors, suppliers, and other parties involved in the construction process. It helps protect the contractor from potential legal issues and ensures transparency in financial transactions. There are different types of Travis Texas Disbursement Statements required by contractors on residential construction projects. The two main categories are: 1. Preliminary Notice Disbursement Statement: This type of statement is provided by the contractor at the beginning of the project. It outlines the names and addresses of all subcontractors, suppliers, and other parties who may have potential lien rights. The preliminary notice disbursement statement also discloses the estimated total contract amount, the amount of work completed to date, and the total amount paid by the owner or lender. 2. Final Notice and Affidavit Disbursement Statement: This statement is required by the contractor towards the end of the project, often when the final payment is due. It provides comprehensive details of all payments made throughout the construction process, including payments made to subcontractors, suppliers, and other parties involved. The final notice and affidavit disbursement statement also confirm that all lien rights have been satisfied and waived, protecting the property owner from any future claims or disputes. Within these two main categories, there can be various versions of the Travis Texas Disbursement Statement, each tailored to the specific needs of the project or the parties involved. Some common variations are: 1. Partial Disbursement Statement: This statement is provided at various stages of the project, usually on a monthly basis, to detail the amount of work completed and payments made up until that point. It helps the owner, lender, or project manager stay informed about the progress of the construction and ensures timely payments to subcontractors. 2. Change Order Disbursement Statement: When there are changes or modifications to the project scope, a change order disbursement statement becomes necessary. This statement accounts for any additional costs or adjustments made to the original contract and outlines the changes in the disbursement schedule accordingly. 3. Subcontractor Disbursement Statement: In cases where subcontractors are involved, the subcontractor disbursement statement is provided to ensure transparency and accurate record-keeping of payments made to subcontractors. It itemizes the amount paid to each subcontractor, providing critical information for proper documentation and lien waivers at the end of the project. By understanding and complying with the Travis Texas Disbursement Statement requirements, contractors can protect their lien rights, maintain strong financial records, and foster positive relationships with owners, lenders, and subcontractors involved in residential construction projects. It is essential to consult legal professionals or experts familiar with Texas mechanics lien laws to ensure compliance with all necessary regulations throughout the process.

Travis Texas Disbursement Statement Required by Contractor on Residential Construction Project — Mechanics Lien— - Individual: In the state of Texas, it is vital for contractors working on residential construction projects to understand the Travis Texas Disbursement Statement requirements related to mechanics liens. Mechanics liens serve as a means for contractors to ensure they are paid for the work they have completed. The Travis Texas Disbursement Statement is a crucial document used to provide proper documentation of payments made to subcontractors, suppliers, and other parties involved in the construction process. It helps protect the contractor from potential legal issues and ensures transparency in financial transactions. There are different types of Travis Texas Disbursement Statements required by contractors on residential construction projects. The two main categories are: 1. Preliminary Notice Disbursement Statement: This type of statement is provided by the contractor at the beginning of the project. It outlines the names and addresses of all subcontractors, suppliers, and other parties who may have potential lien rights. The preliminary notice disbursement statement also discloses the estimated total contract amount, the amount of work completed to date, and the total amount paid by the owner or lender. 2. Final Notice and Affidavit Disbursement Statement: This statement is required by the contractor towards the end of the project, often when the final payment is due. It provides comprehensive details of all payments made throughout the construction process, including payments made to subcontractors, suppliers, and other parties involved. The final notice and affidavit disbursement statement also confirm that all lien rights have been satisfied and waived, protecting the property owner from any future claims or disputes. Within these two main categories, there can be various versions of the Travis Texas Disbursement Statement, each tailored to the specific needs of the project or the parties involved. Some common variations are: 1. Partial Disbursement Statement: This statement is provided at various stages of the project, usually on a monthly basis, to detail the amount of work completed and payments made up until that point. It helps the owner, lender, or project manager stay informed about the progress of the construction and ensures timely payments to subcontractors. 2. Change Order Disbursement Statement: When there are changes or modifications to the project scope, a change order disbursement statement becomes necessary. This statement accounts for any additional costs or adjustments made to the original contract and outlines the changes in the disbursement schedule accordingly. 3. Subcontractor Disbursement Statement: In cases where subcontractors are involved, the subcontractor disbursement statement is provided to ensure transparency and accurate record-keeping of payments made to subcontractors. It itemizes the amount paid to each subcontractor, providing critical information for proper documentation and lien waivers at the end of the project. By understanding and complying with the Travis Texas Disbursement Statement requirements, contractors can protect their lien rights, maintain strong financial records, and foster positive relationships with owners, lenders, and subcontractors involved in residential construction projects. It is essential to consult legal professionals or experts familiar with Texas mechanics lien laws to ensure compliance with all necessary regulations throughout the process.

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