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Chapter 20

Chapter 20 

Contractual Mechanic’s Lien Documents

§ 20.1General Considerations

§ 20.1:1Use of Forms

This chapter outlines common transactions for the creation and documentation of mechanic’s liens on homesteads.

The Texas Constitution distinguishes between “work and material used in constructing new improvements” and “work and material used to repair or renovate existing improvements” on homestead property. Several requirements are added if the contractor or lender is obtaining a lien for repair or renovation of a homestead. See Tex. Const. art. XVI, § 50(a)(5)(A)–(D). This chapter contains forms suggested for use in new construction projects and for repair or renova­tion construction. The forms include a mechanic’s lien contract (form 20-1), a mechanic’s lien note (form 20-2), and closing certificates (forms 20-6 and 20-7), which con­firm owner compliance with the homestead requirements for transactions involving new construction or renovation or repair of existing homesteads.

Section 20.6 below suggests other forms that may be necessary in various transactions, and chapter 12 in this manual discusses truth-in-lending notices and disclosure statements, which are required in several kinds of transactions. Chapter 18 contains a residential construction contract form. The forms and procedures con­tained in chapter 18 must be reviewed to ensure compliance with the terms of the residential construction contract, the loan disclosure requirements, and the closing procedure require­ments of sections 53.255 through 53.260 of the Texas Property Code, although failure to follow these requirements for residential contracts might not invalidate the lien securing the resi­dential construction loan. See Tex. Prop. Code §§ 53.255(c), 53.256(c), 53.257(c), 53.258(e). The residential construction contract (form 18-4) should be referenced in the mechanic’s lien contract (form 20-1). The residential construc­tion contract addresses many construction con­tract terms not addressed by the mechanic’s lien contract.

The forms in this chapter are designed to func­tion interdependently to create and document liens arising from the credit financing of build­ing a home located on homestead property. The choice of which forms to use and which optional provisions to include in the forms for a given transaction depends on several factors, such as which party is extending credit, who owns the property, whether the project is for construction of a new residence or is for renovation or repair of an existing homestead, and whether the lien is primary or subordinate. The mechanic’s lien note, form 20-2, should not be used without the supporting documents suggested in this chapter.

If the construction loan does not affect home­stead property, attorneys usually use the deed of trust (see chapter 8) and note (see chapter 6) instead of the mechanic’s lien documents.

If the mechanic’s lien contract is used for new improvements to a homestead, the property owner may not be able to refinance any pay­ments made to the contractor or any amount owed to the contractor (other than with a home equity loan) if construction begins before appro­priate documentation is executed, acknowl­edged, and filed. If the owner intends to finance or refinance any part of the consideration, the appropriate documents and procedures pre­scribed in this chapter must be implemented before construction begins. Tex. Const. art. XVI, § 50(a)(5); Tex. Prop. Code § 53.254.

Caution:      Only fixed-rate, simple interest may be charged in transactions using these forms. Mechanic’s lien transactions face the cumulative and complex restrictions imposed by federal and state consumer protection laws, Texas home­stead laws, and the Texas Finance Code. See sections 20.1:2 and 20.1:3 below. For this rea­son, transactions documented by the forms in this chapter must not use add-on interest or vari­able interest rates, either of which would require significant revision of the documents.

§ 20.1:2Homestead Considerations

The Texas homestead exemption generally does not preclude a contractual lien for improvements from attaching to the homestead. However, con­tractors, laborers, and materialmen must create such a lien in strict compliance with constitu­tional, statutory, and regulatory formalities. Kendall Builders, Inc. v. Chesson, 149 S.W.3d 796, 807 (Tex. App.—Austin 2004, pet. denied).

Source of Requirements for Contractual Liens for Improvements:      The basic require­ments for all contractual liens for improvements to the homestead are found at Tex. Const. art. XVI, § 50(a)(5). These constitutional require­ments are in certain cases supplemented by additional requirements found at Tex. Prop. Code §§ 41.001, 53.254. Additionally, the Texas Finance Commission has issued regulations interpreting these constitutional and statutory formalities found at 7 Tex. Admin. Code ch. 152.

The formalities necessary for a valid contractual lien for improvements against the homestead are different depending on whether the contract is for new improvements or for repairs or renova­tions to existing improvements. Tex. Const. art. XVI, § 50(a)(5). Additionally, statutory require­ments differ depending on whether the property improved is a business or residential homestead. See Tex. Prop. Code § 53.251(a). Practitioners must be attentive to these variables when draft­ing a contractual lien for improvements made to the homestead.

Contract in Writing:      All contractual liens for improvements to the homestead must be created by a contract in writing between the general contractor and the homestead owner. Tex. Const. art. XVI, § 50(a)(5). The contract must create direct privity between the contractor and the homestead owner. Tex. Att’y Gen. Op. No. JC-0386 (2001). The contract must be bona fide. A sham contract under which the putative contrac­tor receives no consideration or performs no ser­vices will not create a valid lien against the homestead. See In re Jeter, 48 B.R. 404, 408 (Bankr. N.D. Tex. 1985).

Contract Must Set Forth Terms of Agreement:      A contractual lien for improve­ments to a residential homestead must set forth the terms of the agreement between the owner and the contractor. This requirement is not appli­cable to improvements made to a business homestead. Tex. Prop. Code §§ 41.001(b)(3), 53.254(a). The written contract between the owner and the contractor must at a minimum recite (1) the principal amount of the loan, (2) the interest rate, (3) the date that the final pay­ment is due, (4) a description of the property, (5) a general description of the materials to be sup­plied or labor performed, and (6) that a lien is granted to secure payment. In re Burnett, 120 B.R. 839, 841–42 (Bankr. N.D. Tex. 1990). The contract need only provide the general nature of the improvements. It is not necessary that the contract contain a detailed, itemized statement of the work performed or materials furnished. Gomez v. Riddle, 334 S.W.2d 197, 200 (Tex. App.—San Antonio 1960, no writ).

Contract Must Be Executed before Com­mencement of Work:      A contractual lien for improvements to a homestead must be executed before the contractor furnishes any materials or performs any labor. Tex. Prop. Code §§ 41.001(b)(3), 53.254(b).

Contract Must Be Executed by Both Spouses:      Generally, in the case of a family homestead, a contractual lien for improvements must be executed by both spouses in the manner required for the sale or conveyance of the home­stead. Tex. Const. art. XVI, § 50(a)(5)(A); Tex. Prop. Code §§ 41.001(b)(3), 53.254(c). This joinder requirement apparently does not apply to new improvements made to a business home­stead. See Spradlin v. Jim Walter Homes, 34 S.W.3d 578, 580–81 (Tex. 2000). See also Tex. Prop. Code §§ 41.001(b)(3), 53.251(a).

Required Five-Day Waiting Period:      If the extension of credit is to secure the repair or ren­ovation of existing improvements to the home­stead, whether with a contractor or third-party lender, the owner must complete a credit appli­cation for the extension of credit, and a five-day waiting period must expire between the date that the homeowner makes application for the exten­sion of credit and the date that the contractual lien is executed. Any lien instrument executed before the expiration of the five-day waiting period is invalid. Tex. Const. art. XVI, § 50(a)(5)(B). To count the five days, the day after the application for the extension of credit is made is day one. If the fifth calendar day falls on a Sunday or a federal legal public holiday, the contractual lien may not be executed until the next calendar day that is not a Sunday or a fed­eral legal public holiday. 7 Tex. Admin. Code § 152.9.

The five-day waiting period is not required if the work or materials are necessary to complete immediate repairs to conditions on the home­stead property that materially affect the health and safety of the owner or person residing in the homestead and the owner acknowledges this exigency in writing. Tex. Const. art. XVI, § 50(a)(5)(B). This written acknowledgment must at a minimum (1) describe how the condi­tions of the homestead property require immedi­ate repair, (2) describe how the conditions of the homestead property materially affect the health and safety of the owner or person residing in the homestead, and (3) state that the owner is waiv­ing the five-day waiting period required by Tex. Const. art. XVI, § 50(a)(5)(B), the three-day period to rescind the contract for work and materials under § 50(a)(5)(C), or both. Printed forms for this purpose are prohibited. 7 Tex. Admin. Code § 152.13.

Required Preclosing Disclosures:      When the owner obtains third-party financing for the con­struction of improvements to a residential home­stead, the lender must deliver to the owner all documentation relating to the closing of the loan not later than one business day before the date of the closing. If a bona fide emergency or other good cause exists and the lender obtains the written consent of the owner, the lender may provide the documentation or modify previously provided documentation on the date of closing. Tex. Prop. Code § 53.257(a).

In addition, the lender must deliver to the owner before the date of closing the extensive statutory disclosure specified at Tex. Prop. Code § 53.255(b). See form 18-1. (Note: Section 53.255(b) was amended by House Bill 2237, and a revised form of the statutory notice became effective January 1, 2022. Act of May 28, 2021, 87th Leg., R.S., ch. 690, § 34 (H.B. 2237).) If a bona fide emergency or other good cause exists and the lender obtains the written consent of the owner, the lender may provide the required statutory disclosure at closing. The lender must retain a signed and dated copy of this disclosure with the closing documents for the loan. Tex. Prop. Code § 53.257(b).

A failure by the lender or contractor to provide these disclosures does not invalidate the lien. Tex. Prop. Code §§ 53.255(c), 53.257(c).

Right of Rescission:      A contract for work or materials for repairs or renovations to existing homestead improvements must provide that the contract may be rescinded by the owner or the owner’s spouse without penalty within three cal­endar days after execution of the contract by the parties. Tex. Const. art. XVI, § 50(a)(5)(C). To count the three days, the day after the contract is executed is day one. The rescission period ends at midnight of the third calendar day following the execution of the contract. If the third calen­dar day falls on a Sunday or a federal legal pub­lic holiday, the right of rescission is extended to the next calendar day that is not a Sunday or a federal legal public holiday. 7 Tex. Admin. Code § 152.11.

The three-day right of rescission is not required if the work or materials are necessary to com­plete immediate repairs to conditions on the homestead property that materially affect the health and safety of the owner or person residing in the homestead and the owner of the home­stead acknowledges this exigency in writing. Tex. Const. art. XVI, § 50(a)(5)(C). This written acknowledgment and waiver must at a minimum (1) describe how the conditions of the home­stead property require immediate repair, (2) describe how the condition of the homestead property materially affects the health and safety of the owner or person residing in the home­stead, and (3) state that the owner is waiving the five-day waiting period under section 50(a)(5)(B), the three-day period to rescind the contract for work and materials under section 50(a)(5)(C), or both. 7 Tex. Admin. Code § 152.13.

Restriction on Place of Closing:      A contrac­tual lien for improvements to repair or renovate existing improvements on the homestead must be executed in the offices of a third-party lender making the extension of credit, an attorney at law, or a title company. Tex. Const. art. XVI, § 50(a)(5)(D). There is no exception to this requirement for exigent circumstances as with the five-day waiting period or right of rescis­sion.

Required Disclosures:      A contract for improv­ing an existing residential homestead must con­tain the following conspicuous disclosure next to the owner’s signature line:

IMPORTANT NOTICE: You and your contractor are responsible for meeting the terms and conditions of this contract. If you sign this contract and you fail to meet the terms and conditions of this contract, you may lose your legal ownership rights in your home. KNOW YOUR RIGHTS AND DUTIES UNDER THE LAW.

Failure to include the notice constitutes an actionable violation of the Texas Deceptive Trade Practices Act. A provision of a contract for improvements to an existing residence described by Texas Property Code section 41.001(b)(3) that requires the parties to submit a dispute arising under the contract to binding arbitration must be conspicuously printed or typed in a size equal to at least ten-point bold-faced type or the computer equivalent, or the provision is not enforceable against the owner. Tex. Prop. Code § 41.007.

§ 20.1:3Usury Laws and Regulations

The usury statutes and regulations that apply to a loan vary with the type of loan and lender. Regardless of the structure of the transaction, the creditor must comply with the Truth in Lending Act, 15 U.S.C. §§ 1601–1667f.

Third-Party Lenders and First Liens:      State usury law has been preempted by federal statute for first liens on residential real property. This preemption eliminates the rate ceiling for this type of loan for most creditors, including all fed­erally insured financial institutions and other creditors that make or invest in residential real property loans aggregating more than $1 million per year. 12 U.S.C. §§ 1735f–7, 1735f–7a; Seiter v. Veytia, 756 S.W.2d 303 (Tex. 1988). See also Tex. Fin. Code § 302.103 (late charges are interest for purpose of federal preemption). Other third-party lenders may rely on Code section 302.001 as the usury law.

Texas usury law is located primarily in title 4 of the Texas Finance Code. The maximum legal interest rate, except as otherwise fixed by law, is set at 10 percent. Tex. Fin. Code § 302.001. Floating interest rate ceilings for written con­tracts are established by chapter 303 of the Code. Tex. Fin. Code ch. 303.

Contractor–Creditors and First Liens:      A contractor–creditor may be limited to Code section 302.001 as the applicable usury law for a complete structure.

§ 20.1:4Other Consumer Protection Laws

Federal Disclosure Laws and Regulations:       Federal consumer credit laws require disclo­sures designed to allow informed decision mak­ing. The most important of these are the Truth in Lending Act, 15 U.S.C. §§ 1601–1667f, and Federal Reserve Board Regulation Z, 12 C.F.R. pt. 226, both of which require certain creditors to disclose loan terms and rights of rescission to potential borrowers. See chapter 12 in this man­ual for forms and further discussion.

Other federal consumer protection laws that might affect mechanic’s lien transactions include—

1.The Real Estate Settlement Procedures Act, 12 U.S.C. §§ 2601–2617, and Housing and Urban Development Regulation X, 24 C.F.R. pt. 3500, both of which apply primarily to closings for purchases of residential property designed for occupancy by one to four families involving federally related mortgage loans.

2.The Federal Trade Commission anti-holder-in-due-course rule, 16 C.F.R. pt. 433. A prescribed notice must be included in the instrument evidencing the debt if the contractor either (a) receives the proceeds of a loan made to the owner by a third-party creditor for the acquisition of goods or services by sale or lease and either refers cus­tomers to the third-party creditor or is affiliated with the third-party creditor by common control, contract, or busi­ness arrangement; or (b) extends credit to the owner in connection with a “credit sale” under the Truth in Lend­ing Act or Regulation Z. 16 C.F.R. §§ 433.1(d), (e), (i), 433.2.

The contractor and the third-party creditor have a referral relationship if the contractor cooperates with the third-party creditor to channel custom­ers to the third-party creditor on a con­tinuing basis. A referral relationship may arise from a pattern of coopera­tive activity directly related to the arranging of financing. To fall within the rule, the contractor and the third-party creditor must be engaged in cooperative or concerted activity con­ducted to channel consumers to the third-party creditor, and this conduct must occur on a continuing basis. Once a referral relationship is estab­lished, the instruments evidencing debts owed to the third-party creditor arising out of referrals from the con­tractor must include the prescribed notice. However, a referral relation­ship does not include situations in which the contractor merely suggests credit sources to its customers or sends its customers to a third-party creditor without the express or implied agreement of the creditor or without any concerted or cooperative activity between the contractor and the credi­tor.

The contractor and the third-party creditor may be affiliated by common control. For example, common control exists if two companies are owned by a holding company or by substantially the same individuals or if one is a sub­sidiary of the other. The contractor and the third-party creditor may also be affiliated by a contract or business arrangement, which includes any agreement (oral or written), under­standing, procedure, course of dealing, or arrangement between the contractor and the creditor to engage in coopera­tive or concerted activity in connec­tion with the contractor’s sale to customers or the financing thereof. However, the creditor can issue checks payable jointly to the contractor and the owner, and the creditor can coop­erate with the contractor to perfect the mechanic’s lien without creating an affiliation by contract or other arrangement under the FTC rule.

If the contractor and the third-party creditor are not affiliated by common control or by a contract or business arrangement and if the contractor does not refer customers to the third-party creditor, FTC notices are not required and may be deleted from the forms. Federal Trade Commission Statement of Enforcement Policy, 41 Fed. Reg. 34,594 (1976).

3.Right of Rescission. The contractor may need to comply with the Federal Trade Commission rule on cooling-off periods for door-to-door sales. Excep­tions exist if the agreement is entered into at the contractor’s place of busi­ness or under prior negotiations during a visit by the owner to the contractor’s fixed, permanent business establish­ment, at which the contractor’s ser­vices are offered for sale on a continual basis. 16 C.F.R. pt. 429.

4.The Federal Trade Commission rules on credit practices, 16 C.F.R. pt. 444.

Texas Consumer Protection Law:      The Texas Constitution provides several consumer protec­tion provisions related to construction on home­stead property. These requirements are described in this chapter specifically in section 20.1:2 above. Forms 20-6 and 20-7 in this chap­ter are certificates of closing used to confirm compliance with these requirements.

Texas Consumer Protection Laws for Home Solicitations:      The Texas Home Solicitations Transaction Act may apply if the consumer’s obligation is entered into at a location other than the contractor’s place of business. If the Act applies, additional notices are required. Tex. Bus. & Com. Code ch. 601. See the notice of cancellation attached to the mechanic’s lien con­tract (form 20-1).

Texas Finance Code Chapter 343—Home Loan Requirements:      In addition to the fore­going, the transactions described in this chapter may be subject to the disclosure and other requirements of chapter 343 of the Texas Finance Code. See sections 10.14 through 10.14:3 in this manual.

Confidentiality Notice:      Instruments, meaning “a deed, deed of trust, or any other record recorded by a county clerk related to real prop­erty, including a mineral lease, a mechanic’s lien, and the release of a mechanic’s lien,” trans­ferring an interest in real property to or from an individual must include the confidentiality notice required by Tex. Prop. Code § 11.008. See section 3.16 in this manual.

Texas Mechanic’s Lien Claims:      The perfec­tion of involuntary mechanic’s liens is covered in chapter 21 in this manual. Before contracting for residential construction, owners should become familiar with their potential liability for mechanic’s liens. Mechanic’s lien liability and related procedures are outlined for owners in section 18.3:4.

§ 20.2Procedures for Various Fact Situations

This section describes typical construction proj­ects on homesteads. Procedures are given for new construction and for repair or renovation construction projects.

§ 20.2:1First Lien to Third-Party Lender to Secure Interim and Permanent Financing

The owner has title to the real property on which the contractor is building a home or repairing or renovating an existing home, and the third-party lender obtains a first lien to secure both interim and permanent construction financing. See sec­tion 20.2:2 below for the procedure to be fol­lowed if the third-party lender is not providing interim construction financing.

Along with the forms suggested below, other forms used to document the construction pro­cess and establish the parties’ rights may be found in chapter 18 in this manual. Chapter 18 also offers suggestions for completing those forms.

Following are the steps to create and document the mechanic’s lien.

1.For repair or renovation construction projects, all the owners (both spouses) must sign a written application for extension of credit at least five days before signing the mechanic’s lien contract. Tex. Const. art. XVI, § 50(a)(5)(B).

2.The contractor delivers the required disclosure statement (form 18-1) and the list of subcontractors and suppliers (form 18-2) to the owners. See Tex. Prop. Code §§ 53.255, 53.256. Also, a third-party lender is required to give the disclosure in form 18-1 under sec­tion 53.257(a) of the Texas Property Code and must deliver all documenta­tion related to the loan not later than one business day before the date of the closing. Tex. Prop. Code § 53.257.

3.The contractor, the owner, and the owner’s spouse sign the mechanic’s lien contract. For repair or renovation construction, this contract must be signed only at the offices of the third-party lender, a lawyer, or a title com­pany. Tex. Const. art. XVI, § 50(a)(5)(D).

4.A certificate of closing is signed. Form 20-6 in this chapter is for new construction projects, and form 20-7 is for repair or renovation projects.

5.The owner executes the mechanic’s lien note payable to the contractor; the note should bear no interest and be payable in a single payment on com­pletion of construction. The contractor thus is not a creditor under the federal Truth in Lending Act because no finance charge is involved and the obligation is payable in four or fewer installments. 15 U.S.C. § 1602(f).

Because the mechanic’s lien note pay­able to the contractor bears no interest and is payable in a single installment, there is no retail installment transac­tion under Texas Finance Code chap­ter 345, and that chapter does not apply. Tex. Fin. Code § 345.001(7).

The contractor must comply with the FTC anti-holder-in-due-course rule if the contractor has a referral relationship or affiliation with the third-party lender. 16 C.F.R. pt. 433. (See section 20.1:4 above for additional discussion.) The FTC anti-holder-in-due-course notice should be included in the mechanic’s lien note payable to the third-party creditor and may also be included in the mechanic’s lien contract and the mechanic’s lien note payable to the contractor. If no referral relationship or affiliation exists, the notice may be deleted from these documents.

6.The contractor gives the required notices under the FTC rule on cooling-off periods for door-to-door sales (unless an exception exists). In addi­tion, for renovation or repair construc­tion, a three-day right to rescind following the execution of the mechanic’s lien contract by all parties is required unless the project is for immediate repairs to conditions on the homestead property that materially affect the health or safety of the owner and the owner of the homestead acknowledges such in writing. Tex. Const. art. XVI, § 50(a)(5)(C). The contractor then waits to be sure the foregoing rights of cancellation or rescission are not exercised. The owner executes the election regarding the right of rescission (form 20-8) and checks the box indicating the owner’s election not to rescind the contract.

7.The contractor endorses the mechanic’s lien note to the third-party lender and assigns the lien with a transfer of lien, which is filed with the county clerk of the county in which the property is located. See section 10.1 and form 10-1.

8.The third-party lender renews and extends the mechanic’s lien note by having the owner execute a note pay­able to the third-party lender; it bears interest and is payable as agreed between the owner and the third-party lender.

Only fixed-rate, simple interest may be charged in transactions using the forms in this chapter. If fixed interest rates are used, the adjustable-rate mortgage regulations do not apply. These forms are not designed for use with loans subject to the adjustable-rate mortgage regulations and must be significantly revised if used for that purpose.

9.The third-party lender extends the lien with the deed of trust executed by the owner, naming the trustee chosen by the third-party lender. The deed of trust is filed with the county clerk of the county in which the property is located. See chapter 8.

10.The third-party lender is a truth-in-lending creditor and must give the owner a truth-in-lending (loan) disclo­sure form and a right-of-rescission form. See 12 C.F.R. § 226.23. See chapter 12 for forms and further dis­cussion.

11.Construction begins. The affidavit of commencement is executed (see form 18-5). Normally, the third-party lender then advances funds in stages as the construction is completed, according to terms of the mechanic’s lien con­tract and any incorporated residential construction contract. In some cases, the lender will require its own con­struction loan agreement providing interim payments or draws. The owner pays interest to the third-party lender only on amounts advanced during construction and normally begins making payments on the principal of the renewal note only after completion of the construction.

A disbursement disclosure may be found in form 18-3. See section 18.7:3 for a discussion of the balance of the construction process, including descriptions of change orders, affida­vits of completion, and the all-bills-paid affidavits.

12.On final completion, the contractor executes the affidavit of completion and indemnity (form 20-3), and the owner executes the affidavit of accep­tance (form 20-4). The owner has the option of executing and filing the affi­davit of completion (form 18-7) (see sections 18.3:4 and 18.7:7).

§ 20.2:2First Lien to Contractor; No Interim Financing; Permanent Financing by Third-Party Lender

The owner has title to the real property on which the contractor is building a home or repairing or renovating an existing home, and the third-party lender obtains a first lien to secure permanent financing. The third-party lender is not provid­ing interim construction financing. See section 20.2:1 above for the procedure to be followed if the third-party lender also provides interim con­struction financing.

Along with the forms suggested below, other forms used to document the construction pro­cess and establish the parties’ rights may be found in chapter 18 in this manual. Chapter 18 also offers suggestions for completing those forms.

Following are the steps to create and document the mechanic’s lien.

1.For repair or renovation construction projects, all the owners (both spouses) must sign a written application for extension of credit at least five days before signing the mechanic’s lien contract. Tex. Const. art. XVI, § 50(a)(5)(B).

2.The contractor delivers the required disclosure statement (form 18-1) and the list of subcontractors and suppliers (form 18-2) to the owners. See Tex. Prop. Code §§ 53.255, 53.256.

3.The contractor, the owner, and the owner’s spouse sign the mechanic’s lien contract. For repair or renovation construction, this contract must be signed only at the offices of the third-party lender, a lawyer, or a title com­pany. Tex. Const. art. XVI, § 50(a)(5)(D).

4.A certificate of closing is signed. Form 20-6 is for new construction projects, and form 20-7 is for repair or renovation projects.

5.The owner executes the mechanic’s lien note payable to the contractor; the note should bear no interest and be payable in a single payment on com­pletion of construction. The contractor thus is not a creditor under the federal Truth in Lending Act because no finance charge is involved and the obligation is payable in four or fewer installments. 15 U.S.C. § 1602(f).

Because the mechanic’s lien note pay­able to the contractor bears no interest and is payable in a single installment, there is no retail installment transac­tion under Texas Finance Code chap­ter 345, and that chapter does not apply. Tex. Fin. Code § 345.001(7).

The contractor must comply with the FTC anti-holder-in-due-course rule if the contractor has a referral relation­ship or affiliation with the third-party lender. 16 C.F.R. pt. 433. The FTC anti-holder-in-due-course notice should be retained in the mechanic’s lien note if the contractor has a referral relationship or affiliation with the third-party lender. 16 C.F.R. pt. 433. (See section 20.1:4 above for addi­tional discussion.) Otherwise, the notice may be deleted.

6.The contractor gives the required notices under the FTC rule on cooling-off periods for door-to-door sales (unless an exception exists). In addi­tion, for renovation or repair construc­tion, a three-day right to rescind following the execution of the mechanic’s lien contract by all parties is required unless the project is for immediate repairs to conditions on the homestead property that materially affect the health or safety of the owner and the owner of the homestead acknowledges such in writing. Tex. Const. art. XVI, § 50(a)(5)(C). The contractor then waits to be sure the foregoing rights of cancellation or rescission are not exercised. The owner executes the election regarding the right of rescission (form 20-8) and checks the box indicating the owner’s election not to rescind the contract.

7.Construction begins and the affidavit of commencement (form 18-5) is exe­cuted. Construction must then be com­pleted before the next step in this procedure.

8.The contractor executes the affidavit of completion and indemnity (form 20-3), and the owner executes the affi­davit of acceptance (form 20-4). The owner has the option of executing and filing the affidavit of completion (form 18-7) (see sections 18.3:4 and 18.7:7).

9.The contractor endorses the mechanic’s lien note to the third-party lender and assigns the lien with a transfer of lien, which is filed with the county clerk of the county in which the property is located. See section 10.1 and form 10-1.

10.The third-party lender renews and extends the mechanic’s lien note by having the owner execute another note payable to the third-party lender; it bears interest and is payable as agreed between the owner and the third-party lender.

§ 20.2:3Second Lien to Third-Party Lender to Secure Interim and Permanent Financing

The owner has title to the real property on which the contractor is building a home or repairing or renovating an existing home, and the third-party lender obtains a second lien to secure both interim and permanent construction financing.

Along with the forms suggested below, other forms used to document the construction pro­cess and establish the parties’ rights may be found in chapter 18 in this manual. Chapter 18 also offers suggestions for completing those forms.

Following are the steps to create and document the mechanic’s lien.

1.For repair or renovation construction projects, all the owners (both spouses) must sign a written application for extension of credit at least five days before signing the mechanic’s lien contract. Tex. Const. art. XVI, § 50(a)(5)(B).

2.The contractor delivers the required disclosure statement (form 18-1) and the list of subcontractors and suppliers (form 18-2) to the owners. See Tex. Prop. Code §§ 53.255, 53.256. Also, a third-party lender is required to give the disclosure in form 18-1 under sec­tion 53.257(a) of the Texas Property Code and must deliver all documenta­tion related to the loan not later than one business day before the date of the closing. Tex. Prop. Code § 53.257.

3.The contractor, the owner, and the owner’s spouse sign the mechanic’s lien contract. See form 20-1 in this chapter. Additional clauses 20-5-9, 20-5-10, and 20-5-11 are added to the mechanic’s lien contract as part of the general provisions, section F. If a resi­dential construction contract is to be executed, see form 18-4. If the project is for repair or renovation of an exist­ing homestead, the contract must be signed only at the offices of the third-party lender, a lawyer, or a title com­pany. Tex. Const. art. XVI, § 50(a)(5)(D).

4.A certificate of closing is signed. Form 20-6 is for new construction projects, and form 20-7 is for repair or renovation projects.

5.The owner executes the mechanic’s lien note payable to the contractor; the note should bear no interest and be payable in a single payment on com­pletion of construction. The contractor thus is not a creditor under the federal Truth in Lending Act because no finance charge is involved and the obligation is payable in four or fewer installments. 15 U.S.C. § 1602(f).

Under Texas homestead laws, when the contractor and the owner sign the mechanic’s lien contract and the owner executes the mechanic’s lien note payable to the contractor, an obli­gation is established in favor of the contractor and is secured by a mechanic’s lien. Tex. Prop. Code § 53.254.

Because the mechanic’s lien note pay­able to the contractor bears no interest and is payable in a single installment, there is no retail installment transac­tion under Texas Finance Code chap­ter 345, and that chapter does not apply. Tex. Fin. Code § 345.001(7).

The contractor must comply with the FTC anti-holder-in-due-course rule if the contractor has a referral relation­ship or affiliation with the third-party lender. 16 C.F.R. pt. 433. (See section 20.1:4 above for additional discus­sion.) The FTC anti-holder-in-due-course notice should be included in the mechanic’s lien note payable to the third-party creditor and may also be included in the mechanic’s lien con­tract and the mechanic’s lien note pay­able to the contractor. If no referral relationship or affiliation exists, the notice may be deleted from these doc­uments.

6.The contractor gives the required notices under the FTC rule on cooling-off periods for door-to-door sales (unless an exception exists). For reno­vation or repair construction projects, a three-day right to rescind following the execution of the mechanic’s lien contract by all parties is required unless the project is for immediate repair to conditions on the homestead property that materially affect the health or safety of the owner and the owner of the homestead acknowledges such in writing. Tex. Const. art. XVI, § 50(a)(5)(C). The contractor then waits to be sure the right of cancella­tion is not exercised and otherwise complies with the rule, unless an exception exists and the FTC rule does not apply. See section 20.1:4. The owner executes the election regarding the right of rescission (form 20-8) and checks the box indicating the owner’s election not to rescind the contract.

7.The contractor endorses the mechanic’s lien note to the third-party lender and assigns the lien with a transfer of lien, which is filed with the county clerk of the county in which the property is located. See section 10.1 and form 10-1.

8.The third-party lender renews and extends the mechanic’s lien note by having the owner execute a note pay­able to the third-party lender; it bears interest and is payable as agreed between the owner and the third-party lender. Only fixed-rate, simple interest may be charged in transactions using the forms in this chapter. If fixed inter­est rates are used, the adjustable-rate mortgage regulations do not apply. These forms are not designed for use with loans subject to the adjustable-rate mortgage regulations and must be significantly revised if used for that purpose.

9.The third-party lender extends the lien with the deed of trust executed by the owner, naming the trustee chosen by the third-party lender. The deed of trust is filed with the county clerk of the county in which the property is located. See chapter 8.

10.The third-party lender may be a truth-in-lending creditor and may be required to give the owner the truth-in-lending (loan) disclosure form. See 12 C.F.R. § 226.23. See chapter 12 for forms and further discussion.

11.Construction begins. The affidavit of commencement is executed (see form 18-5). Ordinarily, the third-party lender then advances funds in stages as the construction is completed, according to terms of the mechanic’s lien contract and any incorporated res­idential construction contract. In some cases, the lender will require its own construction loan agreement providing interim payments or draws. The owner pays interest to the third-party lender only on amounts advanced during construction and usually begins mak­ing payments on the principal of the renewal note only after completion of the construction.

During construction additional forms are used. A disbursement disclosure may be found in form 18-3. See 18.7:3 for discussion. Other forms used during construction are change-order forms, affidavits of completion, and all-bills-paid affidavits. These forms are included in chapter 18.

12.On final completion, the contractor executes the affidavit of completion and indemnity (form 20-3), and the owner executes the affidavit of accep­tance (form 20-4). The owner has the option of executing and filing the affi­davit of completion (form 18-7) (see sections 18.3:4 and 18.7:7).

Precautions for Subordinate Mechanic’s Lien Contracts:      Subordinate lien financing involves several considerations for all the par­ties involved: the borrower, the prior lender, and the subordinate lender. The borrower should ascertain that the creation of a subordinate lien will not be a default under the prior deed of trust, as subordinate encumbrances are expressly prohibited in many deeds of trust. The prior lender may have concerns about the ability of the borrower to service both the superior and subordinate lien debts. If the borrower should default on the subordinate lien debt and the sub­ordinate lender should foreclose, the borrower, although still liable on the debt, will no longer be the owner of the property, and the incentive to repay the senior loan will obviously be dimin­ished.

The party at greatest risk in subordinate lien financing transactions is the subordinate lender. Foreclosure of a superior lien extinguishes all subordinate liens. See Exchange Savings & Loan Ass’n v. Monocrete Proprietary, Ltd., 629 S.W.2d 34 (Tex. 1982). In Texas, unlike many other jurisdictions, a subordinate lienholder is not entitled by law to notice of default on the prior lien debt or notice of foreclosure proceed­ings. The subordinate lienholder is likewise not entitled to share in the foreclosure proceeds, unless there is an excess after payment of costs and expenses in connection with the foreclosure and satisfaction of the prior lien debt. The subor­dinate lienholder may therefore want to obtain the prior lienholder’s agreement to provide notice of any default by the borrower under the first-lien note and deed of trust and the opportu­nity to cure such default or require the borrower to provide continuing proof that payments on the prior lien debt have been made.

A subordinate lien transaction may be subject to chapter 342 of the Texas Finance Code if the property is a dwelling designed for occupancy by four or fewer families and the interest rate exceeds 10 percent per year. Tex. Fin. Code §§ 342.001(4), 342.005. Chapter 342 applies to a secondary mortgage loan made by a person in the business of making, arranging, or negotiat­ing those types of loans. Tex. Fin. Code § 342.005. The chapter does not apply to a sec­ondary mortgage loan made by a seller of prop­erty to secure all or part of the unpaid purchase price. Tex. Fin. Code § 342.006. If a lender is in the business of making, arranging, or negotiat­ing secondary mortgage loans, the lender must obtain a license from the Office of Consumer Credit Commissioner (OCCC) unless the lender is a bank, savings bank, savings and loan associ­ation, credit union, or a residential mortgage loan originator licensed under chapter 156. Tex. Fin. Code §§ 124.005, 339.004, 341.103–.104, 342.051. Unless exempt under section 180.003, an individual who acts as a residential mortgage loan originator in the making, transacting, or negotiating of a secondary mortgage loan sub­ject to chapter 342 must be individually licensed under chapter 342, be enrolled with the Nation­wide Mortgage Licensing System and Registry as required by section 180.052, and comply with other applicable requirements of the Texas Secure and Fair Enforcement of Mortgage Licensing Act of 2009. Tex. Fin. Code ch. 180. Chapter 342 loans are highly specialized and regulated, and thus if a subordinate lien transac­tion is subject to chapter 342, the attorney must carefully review the chapter to make sure all requirements have been met. Texas Finance Code section 341.502 provides that “[a] contract for a loan under Chapter 342, a retail installment transaction under Chapter 348, or a home equity loan regulated by the Office of Consumer Credit Commissioner must be . . . written in plain lan­guage designed to be easily understood by the average consumer . . . .” Tex. Fin. Code § 341.502(a). The Finance Commission of Texas is authorized to adopt model contracts for loans subject to that section. A lender may not use a contract other than a model contract unless the lender has submitted the contract to the OCCC for its approval. If the OCCC issues an order disapproving a submitted contract, the lender may not use the contract after the order takes effect. Tex. Fin. Code § 341.502. Plain-language model contracts and related rules for chapter 342, subchapter G, second-lien home improvement contracts are codified at 7 Tex. Admin. Code §§ 90.601–.604.

The attorney general has determined that section 341.502(a) applies only to those loan transac­tions for which the consumer credit commis­sioner is the appointed regulating official and has no application to loan transactions subject to the regulatory authority of the banking commis­sioner, the savings and mortgage lending com­missioner, the credit union commissioner, and federal regulatory officials. Tex. Att’y Gen. Op. No. JC-0513 (2002).

Banks, savings and loan associations, and credit unions accordingly are not required to comply with the section 341.502 “plain language” con­tract requirements or to obtain a license to engage in the business of making subordinate lien loans subject to chapter 342. Tex. Fin. Code § 342.051(c)(1). These institutional lenders nev­ertheless are thought to be subject to other sub­stantive law provisions of chapter 342, including, for example, the limitations of that chapter on the collection of authorized fees and charges, as enforced by the policies of their respective regulatory agencies. See Tex. Fin. Code §§ 342.308, 342.502.

Before using the forms in this chapter for a loan subject to chapter 342 of the Texas Finance Code, the attorney should determine whether the lender is subject to the plain-language model contract provisions of Code section 341.502. The forms in this chapter have not been submit­ted to or approved by the OCCC.

If the attorney decides that the forms contained in this chapter may nevertheless be used for a loan regulated by chapter 342, the forms still must be modified to comply with the require­ments of that chapter. For example, the second­ary mortgage loan documents for a loan made by a licensed lender must contain the name, mailing address, and telephone number of the OCCC. Tex. Fin. Code § 14.104. See clause 8-9-24. Neither the mechanic’s lien contract forms nor the note forms in this manual contain that information. The attorney should include that information in both the mechanic’s lien contract form and the note form when documenting a secondary mortgage loan if the lender has a license from the OCCC. Additionally, if a subor­dinate lien transaction is subject to chapter 342, the printed language in the mechanic’s lien con­tract must be modified slightly. In paragraph B.6., the phrase “in a form acceptable to Con­tractor or its transferees” must be struck so that the obligation reads “maintain at Owner’s sole cost and expense insurance policies containing the following coverages . . . .” This change is necessary because Finance Code sections 342.404 through 342.405 and 342.413 prohibit a lender from approving the selection of insur­ance. See Tex. Fin. Code §§ 342.404, 342.405, 342.413. Also, Finance Code section 342.404 provides that when insurance is required in con­nection with a loan made under that chapter, the lender must furnish the borrower a statement like the one in clause 20-5-9, which may be added to the mechanic’s lien contract as a num­bered paragraph under “General Provisions.” Tex. Fin. Code § 342.404.

The same chapter imposes other requirements if the lender sells or procures insurance related to the loan at a rate not fixed or approved by the State Board of Insurance. See Tex. Fin. Code § 342.405.

Finance Code section 342.307 limits the enforcement fees that may be included in sec­ondary mortgage loan documents. To comply with this section, the attorney’s fee provisions in the note, form 6-1, and the mechanic’s lien con­tract should be modified if used in transactions subject to chapter 342 of the Finance Code. See Tex. Fin. Code § 342.307. In the note, the third paragraph, concerning attorney’s fees, should be replaced with clause 6-6-15. See section 6.2:7.

An institutional third-party lender may be required to provide the borrower a truth-in-lend­ing disclosure (loan) form. An example of this form is included in chapter 12.

It is essential that a subordinate deed of trust contain terms and provisions identifying the prior lien and obligating the borrower to keep the prior note and deed of trust current and not in default. Clauses 20-5-10 and 20-5-11 may be used for this purpose. The parties may wish to attempt to obtain an estoppel letter or intercredi­tor agreement from the prior lienholder. An example of such an instrument may be found in form 10-10.

§ 20.3Cautions

§ 20.3:1No Variable Interest Rate Loans

The forms in this chapter are designed for use with loans charging simple interest rates only; they must be carefully revised for use with adjustable-rate mortgages. Variable rates, bal­loon payments, and variable payment schedules require truth-in-lending disclosures and addi­tional disclosures under the Texas Credit Title and Texas Finance Code.

The mechanic’s lien note, form 20-2 in this chapter, makes no provision for credit life insur­ance.

See section 20.7 below for suggestions if one spouse will not become liable on the debt secured by the mechanic’s lien contract.

§ 20.3:2No Out-of-State Venue or Choice of Law

If a contract that provides for the construction of new improvements to real property located in Texas contains a provision making the contract or any conflict arising under the contract subject to the laws of another state, to litigation in the courts of another state, or to arbitration in another state, that provision is voidable by the party obligated to perform the construction. Tex. Bus. & Com. Code §§ 272.001–.002.

§ 20.3:3Prompt Payment Act

Texas Property Code chapter 28 provides that an owner has thirty-five days from the date the owner receives a written request for payment from a contractor to pay the requested amount (less any amount withheld as authorized by stat­ute) if the work covered was properly performed or materials delivered are suitably stored. Tex. Prop. Code § 28.002. Unpaid bills earn interest at the rate of 1.5 percent per month. Tex. Prop. Code § 28.004. Exceptions to this requirement are—

1.if there is a good-faith dispute about the amount owed (including a good-faith dispute about whether the work was done properly), no more than 110 percent of the amount in dispute may be withheld, Tex. Prop. Code § 28.003; or

2.if the lender does not fund the owner for a reason that is not the fault of the owner. See Tex. Prop. Code § 28.008.

§ 20.3:4Construction Trust Fund Statute

Texas Property Code section 162.001 is gener­ally referred to as the “Construction Trust Fund Statute.” This statute, among other provisions, states that loan receipts are trust funds if they are borrowed by an owner for the purpose of improving specific real property in Texas and are secured in whole or in part by a lien on the property. Tex. Prop. Code § 162.001(b). The owner is designated as a trustee of loan funds the owner receives. Tex. Prop. Code § 162.002. As trustee, the owner is obligated to the “benefi­ciaries” of the construction trust funds, includ­ing the contractor, subcontractors, mechanics, and laborers on the project. Tex. Prop. Code § 162.003(a). The owner is also a beneficiary. Tex. Prop. Code § 162.003(b). A trustee who intentionally, knowingly, or with intent to defraud directly or indirectly diverts construc­tion trust funds without first paying the current and past-due obligations on the project has mis­applied the trust funds. Tex. Prop. Code § 162.031. Criminal penalties apply to such diversion. See Tex. Prop. Code § 162.032. Also, diversion constitutes the basis for a civil action against the trustee. See Tacon Mechanical Con­tractors v. Grant Sheet Metal, Inc., 889 S.W.2d 666 (Tex. App.—Houston [14th Dist.] 1994, writ denied).

§ 20.3:5Texas Finance Code Chapter 343

A residential construction loan may be subject to the home loan disclosure and other require­ments of chapter 343 of the Texas Finance Code. See sections 10.14 through 10.14:3 in this man­ual.

§ 20.4Instructions for Completing Forms

§ 20.4:1Generally

Chapter 3 of this manual offers useful informa­tion about designations of parties, property descriptions, and other matters generally related to completing the forms.

§ 20.4:2Mechanic’s Lien Contract

The mechanic’s lien contract, form 20-1 in this chapter, closely resembles the deed of trust; ref­erence to chapter 8 in this manual may be useful for completing the contract. For remarks about prior liens, see section 8.2:4. For discussion about other exceptions to conveyance and war­ranty, see section 5.2:7.

The mechanic’s lien contract must be executed before the construction begins and must be filed with the county clerk of the county in which the property is located. Tex. Prop. Code § 53.254. In case of repair or renovation construction, the contract must contain, and the parties must com­ply with, optional section G. See Tex. Const. art. XVI, § 50(a)(5)(A)–(D), and the explanation at section 20.1:1 above. Also in this case, the own­ers must be provided the election regarding the right of rescission (see form 20-8).

The residential construction contract provides details about the description of the work, sched­ules for completion, changes, termination of the contractor, and other matters. See form 18-4 for applicable clauses.

A force majeure and “time is of the essence” clause may be included in the additional provi­sions following paragraph F.13. of the mechanic’s lien contract form. An example of such a clause appears as clause 20-5-2.

The contract contains the anti-holder-in-due-course notice required by the Federal Trade Commission for consumer credit contracts made in connection with the sale or lease of goods or services to consumers for personal, family, or household use. See 16 C.F.R. pt. 433. For trans­actions not covered by this FTC regulation, the notice may be deleted.

The contract contains the right-of-cancellation notice required by Tex. Bus. & Com. Code ch. 601 and 16 C.F.R. § 429.1. For transactions not covered by those provisions, the notice may be deleted. Section G. of the contract contains the right of rescission required by Tex. Const. art. XVI, § 50(a)(5)(C), applicable to repair or reno­vation construction. These notices and cancella­tion forms may be deleted if an exception exists or if the sections are not applicable.

RCLA Notice Required:      The notice state­ment required by the Texas Residential Con­struction Liability Act (RCLA, Tex. Prop. Code ch. 27) is included at the end of the contract, above the owner signatures. See Tex. Prop. Code § 27.007.

The RCLA notice is required in addition to the Tex. Prop. Code § 41.007 notice.

§ 20.4:3Mechanic’s Lien Note

The mechanic’s lien note, form 20-2 in this chapter, is similar to the note discussed in chap­ter 6, which suggests payment clauses and other clauses that may also be appropriate for this note.

The mechanic’s lien note should not be used alone. Interdependent uses of the forms are sug­gested in section 20.2 above.

Payment clauses should be drafted in accor­dance with the provision for statutory reserva­tion or retainage contained in the mechanic’s lien contract in paragraph A.4.:

Notwithstanding anything to the con­trary in this contract, during the prog­ress of the Construction, Owner shall reserve the amounts required by sec­tions 53.101 and 53.081 of the Texas Property Code. Unless the claim is otherwise settled, discharged, indem­nified against, or determined to be invalid by a final judgment of a court, reserved funds under section 53.081 will be withheld until the time for fil­ing the affidavit of mechanic’s lien has passed or, if a lien affidavit is filed, the lien claim has been satisfied or released. Reserved funds under section 53.101 will be withheld during the progress of the work under an original contract for which a mechanic’s lien may be claimed and for thirty days after the work under the contract is completed.

The mechanic’s lien note contains the anti-holder-in-due-course notice required by the Fed­eral Trade Commission for consumer credit con­tracts made in connection with the sale or lease of goods or services to consumers for personal, family, or household use. See 16 C.F.R. pt. 433. For transactions not covered by this FTC regula­tion, the notice may be deleted. The notice appears on the last page of the mechanic’s lien note immediately preceding the signature line.

Often the note is drafted to become due on com­pletion of construction. Alternatively, the parties may prefer to specify that partial payments are due on the completion of the distinct phases of construction. Installment payments may cause the Truth in Lending Act to apply. See chapter 12. Examples of both types of payment clauses appear in form 20-5.

§ 20.5Additional Clauses

The mechanic’s lien contract, form 20-1 in this chapter, may include additional clauses concern­ing contract price. See form 20-5 for examples of these clauses.

If payment is based on costs, the attorney should include a carefully drafted definition of costs in the contract.

For transactions subject to chapter 345 of the Texas Finance Code, the “cost-plus” clauses (20-5-6 and 20-5-7) are not appropriate. See section 20.1:3 above.

If payment will be based on the cost of labor and material plus a fixed fee, not to exceed a certain amount, use clause 20-5-6. If payment will be based on the cost of labor and material plus a percentage of the cost, not to exceed a certain amount, use clause 20-5-7.

If the contractor’s profit is calculated by fixed fee or percentage and the parties do not wish to limit the total cost, the examples suggested in clauses 20-5-6 and 20-5-7 could be modified by omitting the sentence limiting the total contract price. However, this practice is discouraged because a contract that does not limit total costs to a certain amount arguably may not create a valid lien against a homestead, because it might not satisfy the constitutional requirement for a complete precommencement contract that includes the price.

§ 20.6Additional Documents

Chapter 12 in this manual contains documents that may be required for mechanic’s lien trans­actions in accordance with the Truth in Lending Act and its accompanying regulations. Chapter 12 also offers suggestions for completing those forms.

In mechanic’s lien transactions the owner and the contractor should either execute a detailed construction contract like form 18-4 in this man­ual, describing plans and specifications for the construction, or include those details in the mechanic’s lien contract. The American Institute of Architects’ standard form is also commonly used for this purpose if a separate contract is desired. Any separate contract used for this pur­pose should be incorporated by reference in the mechanic’s lien contract.

Other forms used to document the construction process and establish the parties’ rights may be found in chapter 18. Chapter 18 also offers sug­gestions for completing those forms.

If the mechanic’s lien is subordinate to a prior lien, the lender ordinarily requires as a condition of the loan that the holder of the prior lien signs a third-party estoppel agreement. An example of this agreement appears as form 10-10.

If a cosigner, guarantor, or the like is not the spouse of the loan applicant and will not benefit from the credit transaction, federal regulations require creditors to provide a specified notice for consumer credit transactions other than the purchase of real property. The notice, which must be given as a separate statement to each cosigner, guarantor, or the like, may be found at form 6-7.

The transaction described in section 20.2:2 above suggests the use of an affidavit of com­pletion of construction and indemnity as part of the procedure. A model for this purpose is pro­vided as form 20-3 in this chapter and is accom­panied with a form for the owner’s affidavit of acceptance of the construction, form 20-4.

§ 20.7Required Signatures

If the spouse of the owner of record of the homestead subject to the mechanic’s lien will not become liable on the underlying debt, the transaction must be structured accordingly. To avoid becoming liable on the debt, the spouse may execute only the lien instrument (mechanic’s lien contract or deed of trust), not the mechanic’s lien note.

If a homestead is the separate property of one spouse, both spouses must sign and acknowl­edge the mechanic’s lien contract to create a valid mechanic’s lien, but only the spouse liable for the debt need sign the note. In this case, a clause like clause 20-5-8 in this chapter should be added to the general provisions section (sec­tion F.) of the mechanic’s lien contract.

Although creditors often prefer that both spouses sign the note, regulations accompanying the Equal Credit Opportunity Act generally pro­hibit creditors from requiring an applicant’s spouse to cosign or guarantee a note if the appli­cant is creditworthy. 12 C.F.R. § 202.7(d). Even if not liable on the debt secured by the lien on the property, a spouse may sign the instrument creating the lien if state law requires the signa­tures of both spouses; this compliance with state law does not violate the Equal Credit Opportu­nity Act.

A creditor may request a cosigner, guarantor, or the like on an extension of credit if the applicant does not meet the creditor’s creditworthiness standard for individual credit. However, the creditor may not specify that the applicant’s spouse be the cosigner or guarantor. Under some conditions, creditors must provide cosigners a notice warning them of their liabilities. See sec­tion 6.5:2 and form 6-7.

§ 20.8Foreclosure

Foreclosure of the voluntary contract lien granted in a mechanic’s lien contract is similar to foreclosure under a deed of trust. See chapter 14 in this manual for foreclosure instruments that may be adapted for use in foreclosing a mechanic’s lien.

§ 20.9Additional Resources

Beyer, Gerry W. Real Property. 2nd ed. West’s Texas Forms 13–15. St. Paul, MN: West, 2001. Supplement 2016.

Melamed, Richard. “Mechanic’s Liens on Homesteads.” In Advanced Real Estate Drafting Course, 2005. Austin: State Bar of Texas, 2005.

Myers, Thomas W. “Mechanic’s Liens: What’s in Your Tool Box?” In Advanced Real Estate Law Course, 2007. Austin: State Bar of Texas, 2007.

St. Claire, Frank A., and William V. Dorsaneo III. Texas Real Estate Guide. New York: Matthew Bender & Co., 2001.

Walthall, Thomas J., Jr. “Annotated Mechanic’s Liens.” In Real Estate Law Boot Camp, 2008. Austin: State Bar of Texas, 2008.

———. “Texas Mechanic’s Liens and Construc­tion Payment Issues.” In Advanced Real Estate Law Course, 2008. Austin: State Bar of Texas, 2008.