There is no ignoring the importance of lien services when it comes to the construction industry. Even the smallest construction projects undergo the same procedures, protocols as well as processes in order for them to be completed successfully. For the purpose of making sure that all paper works involved are current and in order, and that all parties involved in the said project, like suppliers and contractors, are paid for their services, many companies offer lien services. The existence of lien services is influenced by the need to protect the lien rights of these entities. For the remainder of this article, we will discuss with you some of the common, yet, essential lie services that are offered by companies specializing in lien rights. The information that we have will give both suppliers and contractors a good idea about the things that each service have to offer. Furthermore, this will also give them an idea on which among these services is the right one for them to choose when approaching a lien company.
The first lien service that we have here in our list is the Primary Notice Services. One thing about this service that we want you to know of is that it is specifically intended for property owners. The notice is served to owners as a reminder or a notification that contractors or suppliers are offering labor, his services, material, and equipment as well in order for you existing properties to be improved. This might come in the form of remove or remodeling existing ones, or it could also be adding new structures.
Another lien service that we want you to know of is the Mechanics Lien Services. Speaking of mechanic lien services, one thing about it that you should know of is the fact that such service exist for both real estate property and personal property, and it goes by different names, depending on the type of property it is. The Mechanics Lien Services are placed against the title of the actual property. It shows how you, the property owner, possess a financial interest in the property and this requires a lien release that is issued by the party placing the lien itself. Furthermore, we want you to know as well that Mechanics Lien Services are of great importance and are mandatory as well in construction, or else, the contractor will have very limited options to enforce payment it is owed.
The next form of lien service that you have to be aware of is the Stop Notice Service. When we say Stop Notice Services, we are actually referring to stop notices that are furnished by the contractor or the supplier on a construction project. These lien services are known for entailing what material or supplies, or even services were provided or will be offered to the owner. Additionally, this service outlines the total amount the entire project will cost and how much of it has been paid already.