![]() ![]() When a construction project involves a home or other residential property, before a contractor or supplier can file a construction lien, they must take the additional step of filing a Notice of Unpaid Balance with the county clerk in the county where the property or home is located. The point of the construction lien is to protect the contractor’s right to obtain payment through the sale of the property if the contractor is not paid. In New Jersey, material suppliers and contractors who have not been paid for materials supplied or work performed on a construction project can file a construction lien against the property on which the project is located. The concept of a construction lien must be understood in order to understand the Notice of Unpaid Balance. What is a Notice of Unpaid Balance and Right to File Lien and why did I receive one? When this happens, many questions run through a homeowners mind: What is a Notice of Unpaid Balance and Right to File Lien? Why did I receive it? What happens now? Is there anything I need to do? This post is aimed at answering these questions. This reality becomes difficult to ignore when someone sends you, the homeowner, a Notice of Unpaid Balance and Right to File Lien. Yet any of these conflicts could result in a lien claim against your home. Conflicts with the material suppliers of contractors are an even more distant consideration. At the start of a major residential construction project, a homeowner or property owner usually does not think about what will happen if a conflict about payment develops with the general contractor or subcontractor. Hiring a contractor to build you a new custom home, perform a home renovation or complete a substantial improvement of your residential property involves a major investment of time and money. ![]()
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