Texas Construction Trust Funds: Accounts and Control
Texas contractors control statutory trust funds. Residential homestead jobs over $5,000 add specific construction-account and recordkeeping requirements.
Buildplus Money Matters
Texas contractors control statutory trust funds. Residential homestead jobs over $5,000 add specific construction-account and recordkeeping requirements.
New York contractors must keep project trust funds identifiable and properly documented. Dedicated Buildplus project accounts make that discipline easier.
Michigan law does not require a separate bank account for every construction project, but contractors must protect project funds and be able to show where the money went.
Traditional fund control protects a project by putting a third party between the money and the builder. Buildplus provides segregation, visibility, and an audit trail while the general contractor keeps control.
What general contractors need to know about contract language, project funds, cost-plus accounting, and state-specific duties.