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.
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.