Ever 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.
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.
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.
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.