New York Bond Filing Agent – the premier agent for filing mechanic’s lien surety Bonds and Bond Discharges. Bond off a mechanic’s lien filed against you, your project or your property. 

If A Lien Has Been Filed Against Your Property, It Means A Creditor Has Claimed The Right To Your Property As Security For A Debt. This Can Be Caused By A Contractor Or Supplier Not Being Paid For Their Services, Labor Or Materials. 

A Bond Discharge Is A Mechanism For Temporarily Removing A Mechanic’s Lien From The Title Of The Property. 

New York Lien Law § 19(4), allows a lien to be discharged by filing a surety Bond. A Bond Discharge is a mechanism for temporarily removing a mechanic’s lien from the title of the property. The property owner or contractor can file a Bond against the Mechanic’s Lien. A Bond deposits 110% the value of the Lien with the courts. 

The bond guarantees the Lienor any payment that is still due to them with interest should they win the case in a court of law.

A Mechanic’s Lien is a legal claim against a property for unpaid work or materials used in construction or improvement of a property. If a vendor is not paid for their service, they can file a mechanic’s lien against you or your property for non-payment. A lien, you can place a hold on the property and prevent it from being sold or refinanced until the Lien is Satisfied (or discharged by Bond). 

There are many benefits to filing a Surety Bond against a Mechanic’s Lien, including:

1. 1. Release of the lien: By filing a surety bond, a property owner can often obtain a release of the mechanic’s lien that has been filed against their property. This can prevent the lienholder from foreclosing on the property or otherwise taking legal action to collect the debt.

   2. Preservation of the property: Filing a surety bond can help preserve the property owner’s ownership rights and prevent the property from being sold to satisfy the debt. This can be particularly important for commercial or residential properties that are important assets for the property owner.

   3. Protection of credit score: If a mechanic’s lien is filed against a property owner, it can negatively impact their credit score and ability to obtain financing in the future. Filing a surety bond can help protect the property owner’s credit score and financial reputation by ensuring that the debt is satisfied.

   4. Cost-effective alternative: Filing a surety bond can be a cost-effective alternative to paying the debt in full or engaging in lengthy legal proceedings. The property owner can often obtain the release of the lien by paying a percentage of the total amount owed, which is typically less than the full amount of the debt.

   Overall, filing a surety bond against a mechanic’s lien can be a useful tool for contractors or property owners who are facing financial challenges or legal disputes related to their property. It is important to work with an experienced surety bond agency to ensure that the process is completed correctly and in accordance with local laws and regulations.

New York Bond Filing Agent services the entire state of New York and New Jersey. Need to file a Bond Discharge in New York City or the boroughs? Call us. 

Visit our FAQs page for our most frequently asked questions.