Taking Action With a Scottsdale Lien Bond

August 7, 2017 by · Leave a Comment 

Trying to handle a lien situation? Chances are the answer may be in a transfer of lien bond. A property lien is yet one more situation where surety bonds have been designed to bring resolution. A Scottsdale lien bond can remove a lien from a property quickly because it is trusted by Arizona courts.

What Does A Lien Do?

A lien is a legal action that essentially is the scarlet letter for property. When property has a lien it cannot be sold or inherited. The lien remains like a chain around the neck. Given the significance of a lien only a court can grant the action take place.

Who Can Use A Lien?

Typically a lien is taken out by a person or company who is owed a debt for service. A landlord who has unpaid bathroom repairs on one property could find other properties in jeopardy because of liens.

Sunset in Scottsdale, ArizonaContractors are among the most common plaintiffs seeking a lien. The battle over services and compensation has long been a delicate one. And the Scottsdale, Arizona courts eventually had to intervene to provide a solution to the problem.

Any party, builder or not, has the ability to seek a lien. Once it is approved by the court a lien goes into effect immediately.

How Can A Lien be Removed?

There are a couple of ways to remove a lien. The obvious “just pay the due amount” springs to mind, but that still will require the court recognizing the payment and removing the lien.  An appeal of the court’s decision could made which could take time depending on the caseload in Scottsdale.  

Arguably one of the fastest ways to remove a lien is to replace it with a transfer of lien bond. A Scottsdale lien bond is a common type of defendant bond. The transfer of lien bond is valued at double the cost of the lien showing the court that efforts are being made to protect against wrongful action. Even though the value of a Scottsdale lien bond is high the cost is minimal with only one percent paid upfront.

Using a lien bond in Scottsdale will provide relief and allow property to be untangled from contested invoices and payments. A Scottsdale lien bond is the course of action recommended by most for its simplicity and effectiveness.

Have more questions about lien bonds in Scottsdale? Contact an Arizona surety bond expert at Jurisco today.

Surety Bond Spotlight: Tacoma Lien Bond

July 20, 2017 by · Leave a Comment 

Mt. Rainer serves as a backdrop to the port at Tacoma, WashingtonEver try to sale a piece of property that has a lien? It’s a headache by design. A lien is a serious legal action that courts don’t grant or take lightly. A Tacoma lien bond is a type of surety bond with the power to satisfy a lien and allow progress to move forward instead of stand still.

How Is A Lien Used?

A lien is applied when a court rules that an owed-party has a right to assets as a result of non-payment. One common way property can have a lien is when a property owner does not pay a contractor. A plumber who is not paid for work can tie up a property with a lien even if the bill is in the hundreds.

To help encourage the property owner to satisfy the due amount a court will place a lien on the property (be it a house or a parking lot) as a type of collateral. The property owner always has the right to contest the lien.

Will A Tacoma Lien Bond Remove A Lien?

There are a few different ways to take care of a lien. A surety bond being the easiest among them. One option is to prove that the alleged due amount has already been paid. You could pay the full amount in cash. This option can become rather expensive especially if multiple liens are on a property (example: from a painter and plumber).

A Tacoma lien bond covers the alleged debt, court fees, and any other special circumstances. Using a Tacoma lien bond allows clients to satisfy the lien faster than any other option. With this surety bond the sale of a property could be finalized. Courts trust lien bonds because they offer the fullest protection for all parties.

Can A Court Deny A Tacoma Lien Bond?

While Tacoma courts rely on lien bonds there are situations where a bond can be denied. For example, failing to meet Washington lien bond requirements can result in a court denying a lien bond. This denial could result in costly delays.

To ensure that there are no problems with a lien bond Jurisco always makes sure every client receives the best bond for them. The lawyer-trained staff here understand the necessity of valuing the court’s time. Courts trust surety bonds from Jurisco because of our attention to detail.

Want more information on Tacoma lien bonds? Contact Jurisco and learn how a surety bond expert can help.

 

Release Of Mechanic’s Lien With A Surety Bond

February 10, 2016 by · Leave a Comment 

Whether or not it occurs at an individual or a business level, liens can cause a lot of trouble. One of the fastest ways to clear up lien disputes is to secure a release of mechanic’s lien surety bond.

Use a surety bond to release a mechanic's lien.

Use a surety bond to release a mechanic’s lien.

Allowing a lien to remain leads to legal fees, along with the possibility of seizure of property. Each state has a mechanic’s lien statute that outlines the do’s and do nots of a lien. A major ‘do not’ is to ignore the lien.

Transfer a Lien

A lien can be placed on property if a defendant is alleged to owe the plaintiff money. Courts in every state allow a lien as a way to secure the amount in question until the matter is resolved.

Liens may be used on places of businesses as well as private property. A common use of a mechanic’s lien is when a contractor, or the employee of the contractor, claims to have not received payment.  Until the lien is properly removed, there are legal bindings on the property, such as the restriction of sale.

The release of mechanic’s lien can happen in two ways: through immediate payment of the disputed funds or with a surety bond.

A release of mechanic’s lien is the more cost-effective approach out of the two. Especially if the owing party feels they don’t owe anything.

Surety Bond Rates

Jurisco has a team of surety bond experts that help clients lower their release of mechanic’s lien cost. As a nationwide surety bond company, Jurisco knows all state regulations. This expertise always delivers low surety bond rates.

Working with a reputable company provides the guarantee of meeting all applicable federal and state lien guidelines.  This avoids additional legal costs resulting from filing the wrong bond or not meeting the time restrictions.

A release of mechanic’s lien application is available online. Filling out an application only takes a few minutes. In most cases, a release of mechanic’s lien bond is secured the same day the application is received.

Contact Jurisco with any questions about a  release of mechanic’s lien bond. They’ll help make the lien process easier.

Understanding California Mechanics Lien Law

February 8, 2016 by · Leave a Comment 

The California mechanics lien law lays out the circumstances and requirements for a lien. Knowing when to use a lien, or how to remove a lien, can appear confusing with strict time limits and amount constraints. Understanding the California mechanics lien law is the best way to deal with the lien process.

Using A Lien

The California mechanics lien law must be followed.

The California mechanics lien law must be followed.

Liens are typically used when one party owes another party money. A mechanics lien is placed on property, a business, or other physical properties to secure the money owed.

For example, a contractor who remodels a house and is not paid for their work can place a lien on the home. A lien can also be placed on the same home if the employees of the contractor do not receive payment. The lien prevents the property from being sold or even remortgaged.

California mechanics lien law allows liens to be placed on property as a way to clear up the disputed funds. The state also provides California lien release forms to help explain the process further.

California Mechanics Lien Law Time Limits

Part of understanding the California mechanics lien law is knowing the time limits.  A lien may be invalid if it is filed outside of the required time window.

California has strict deadlines for recording a mechanics lien. The time starts from when the work was completed. Completed being a key term. If work is still ongoing then the lien is void. Now if the contractor has been removed from the job, and/or can no longer complete the work, then their portion is considered completed, even though the job continues.

These slight subtleties catch a lot of people up.

Without filing a lien in the proper time frame, the lien will be of little use. In general, it is expected that a lien be properly filed within the 30-day “completed”  timeframe. Working with a California surety bond expert will help clear up any problems with deadlines.

The state also mandates how quickly a release of lien must be filed.

Release Of Lien Surety Bond

Dealing with a mechanics lien can be a headache.  The best way to handle a lien is to quickly replace it with a surety bond. With the lien being secured by a bond, the issue over money owed can be cleared up without threat to property.

A release of lien bond removes the lien from the property and replaces it with a surety bond. The amount of the release of lien bond is based on the amount of the lien along with additional court costs.

Courts only accept a release of lien bond if the California mechanics lien law is followed. Working with Jurisco, a reputable surety bond company, means clients always receive a bond that meets state statutes. Take care of a mechanics lien easily with Jurisco.

Transfer Of Lien Bond In Washington

July 16, 2015 by · Leave a Comment 

transfer of lienIn a temperamental real estate environment Washington court’s understand how fragile making a sale can be which is why they allow property liens to be handled with a surety bond. The transfer of lien bond in the state of Washington allows people to go through with a sale of the property while still respecting any liens that may be placed there on.

Why Are Liens Placed On A Property?

There are several reasons why a lien may be placed on a property. For example, the property owner could owe a contractor for work completed on the house. A recourse for the contractor to receive their money is to place a lien on the property until they are paid. This lien protects those owed money so when the property owner decides they need to sale the property the court wants to make sure those owed are not left out in the cold.

Bonds Protect People

By taking out a transfer of lien bond the debts owed will be covered. It also protects the party taking out the lien should the sell of property be deemed unlawful. The bottomline is that the court wants to protect all interested parties from a financial loss. If the property owner can sale the house, for instance, then they will be in a better position to pay off the debt which caused the lien in the first place. The court allows this opportunity as long as a surety bond covers all the moving pieces including court fees.

How Much Does A Transfer of Lien Bond Cost?

The cost of a transfer of lien bond is going to depend on several factors including property value, how much the lien is for, and any local ordinances. While the cost may fluctuate the protection never waivers. Having this type of surety bond protects a person or business from dealing with lawsuits concerning liens. It shows the court that the liens will be respected and that the transfer of lien is done in just faith and without malicious intent.

Release of Mechanic’s Lien California

May 8, 2015 by · Leave a Comment 

mechanics lien californiaSection 8242 of the California Civil Code deals with the surety bond requirements and procedure for releasing of real property from a claim of lien.  The bond in this case is referred to as a Release of Lien bond or, simply, a Mechanic’s lien bond.    Generally, liens are filed against real property by a contractor or subcontractor.  However, as an article in the California Construction Attorney’s website shows,  liens can also be filed by design parties as well.  This extends to architects, engineers and site planners.  However, as the above referenced article explains,  traditional lien rights to designers only kick in once the construction project begins.  Prior to that and during the planning phase, a design professional can use a Design Professional Lien to seek remedy.

Mechanics’ liens and design professional liens are technical and can be difficult to prove or refute.  It is always wise to see the consul of an experienced attorney before filing a claim.  If you would like to find out more information on Mechanic’s Lien Bonds or Transfer of Lien bonds, however, please contact the Surety Bond Experts at Jurisco.  One of their helpful staff will happy to prove assistance with rates, applications and general information.

Changes to Mechanics Lien law in California

December 3, 2013 by · Leave a Comment 

Changes to Mechanics Lien law in CaliforniaOn July 1st, 2012 a number of significant changes to Mechanics Lien Law in California went into effect. It is hard to gauge exactly how much impact these changes have had lien filings in California. A recent article By Carlos Rico in The Daily Transcript postulates that there haven’t been a significant rise or fall in the number of lien filed in the state. He goes on to say that the strength of the economy (or lack of) if the determining factor in mechanics lien filings. (See Carlos’s article here). Taking these arguments into account one could argue that . . . maybe it is too early to decide if the changes to the mechanic’s lien law will produce their intended outcome: to streamline lien filing practices so contractors can get paid for their work.

This Jurisco blog has burned of many words updating California Attorneys on the workings of the Transfer of Lien Bond; also known as a Release of Lien Bond. Changes made to the mechanic’s lien law have a direct effect on any issuing of a Transfer of Lien Bond or a Release of Lien Bond in California. The new law reduces the size of the bond required to adequately release a property of a lien from 150 percent of the lien amount to 125 percent. See below or this Linkfor text of the code)

The good news: This reduction in bond amount makes it easier to issue these bonds. Extrapolated Further: This will help contractors collect payments because a Transfer of Lien Bond (or a Release of Lien Bond) is a legal mechanism that guarantees payment of contested amount if the property owner is found to be liable for the sum.

Does all this sound like a foreign language to you? If so, don’t be daunted. It is complicated. Luckily the surety bond experts at Jurisco can help make sense of all these changes. Contact a representative today.

CA Code 8410-8424

“8424. (a) An owner of real property or an owner of any interest in real property subject to a recorded claim of lien, or a direct contractor or subcontractor affected by the claim of lien, that disputes the correctness or validity of the claim may obtain release of the real property from the claim of lien by recording a lien release bond. The principal on the bond may be the owner of the property, the direct contractor, or the subcontractor.

(b) The bond shall be conditioned on payment of any judgment and costs the claimant recovers on the lien. The bond shall be in an amount equal to 125 percent of the amount of the claim of lien or 125 percent of the amount allocated in the claim of lien to the real property to be released. The bond shall be executed by an admitted surety insurer.

(c) The bond may be recorded either before or after commencement of an action to enforce the lien. On recordation of the bond, the real property is released from the claim of lien and from any action to enforce the lien.

(d) A person that obtains and records a lien release bond shall give notice to the claimant. The notice shall comply with the requirements of Chapter 2 (commencing with Section 8100) of Title 1 and shall include a copy of the bond. Failure to give the notice required by this section does not affect the validity of the bond, but the statute of limitations for an action on the bond is tolled until notice is given. The claimant shall commence an action on the bond within six months after notice is given.”

Transfer Release of Lien Bond in California

December 3, 2013 by · Leave a Comment 

Transfer Release of Lien Bond in California

It is difficult to sell a house or other realproperty if you have if you don’t own the title outright. And if there is a lien on the your property it can seem impossible. In reality, however, a property lien doesn’t have to be be a dead end to a sale. There are legal products that can can turn a serious impediment into just a speed bump.

First the cold hard facts. Merriam Webster defines a Lien as:

  • a charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law

  • In law, a charge or encumbrance on property for the satisfaction of a debt or other duty. Common law developed two kinds of possessory lien: the specific (a lien on the specific property involved in a transaction) and the general (a lien for the satisfaction of a balance due, not confined to a specific property involved in a transaction). Courts of equity may, through the device of the equitable lien, recognize a creditor’s interest in a debtor’s property. Statutory liens are also available; developers and building contractors, for example, may use their interest in an improved site as security for payment (a mechanic’s lien).

What most prospective sellers don’t realize is that there is a way to securely place any property lien outside the purview of the sale. Named a Transfer of Lien Bond (or a Release of Lien Bond), this surety bond releases a lien from the property and replaces it with a bond to guarantee satisfaction if the court upholds the lien’s merit.

Every day in California, people are realizing that they have options when it comes to selling real property. The transfer of lien bond can easily and effectively free up a seller from an otherwise sale-negating encumbrance.

The bond experts at Jurisco know more about Transfer of Lien bonds (or Release of Lien Bond) and all other types of defendant bonds than any one company has a right to. They’ve been writing these bonds and saving people time for decades. Contact them to learn more.

Transfer of Lien Bond in Florida

March 12, 2012 by · Leave a Comment 

Transfer of Lien Bond in FloridaDefendants wishing to transfer a lien from title to a surety bond may do so with a transfer of lien bond in Florida. This court bond applies to most types of property including automobiles and real estate. A lien may be a roadblock between the sale of a house and a few more months on the market. In similar scenarios, it may be a good idea to use a transfer of lien bond, especially if the defendant feels the lien was unjust in the first place.

The lien may very well be called for, however, so the court still has a responsibility to the plaintiff. When a defendant wants to remove the lien before the court issues a ruling, the judge requires a surety bond to uphold the lien’s merit. Using a transfer of lien bond in Florida ensures the plaintiff in the case will not suffer a financial loss.

The surety bond also covers court cost and fees. In Florida, the court cost is calculated by multiplying the lien amount by the legal rate of interest for a three-year period plus 25% or $1,000.00, whichever is greater. There may also be an approval fee from the appropriate Deputy Clerk.

A member of the Jurisco team can explain the surety bond requirements and cost in further detail. You can get the process started right now by visiting our application page. Our lawyer trained, court bond experts will help you with all your transfer of lien bond needs.

 
Call +1 (800) 274-2663 for Fast & Reliable Service Nationwide on all Surety Bonds GET A QUOTE