Need to Discharge a Mechanic’s Lien? New York Bond Filing Agent Can Help!
Need to Discharge a Mechanic’s Lien? New York Bond Filing Agent Can Help! If you’ve had a mechanic’s lien filed against you or your construction project, New York Bond Filing Agent is here to assist. You can bond it off and clear your property title with our help.
A bond to discharge a mechanic’s lien serves to removes the mechanic’s lien from a parcel of real property and, in essence, the mechanic’s lien then attaches to the bond until it is discharged some other way or satisfied.
What is a Mechanic’s Lien Discharge Bond?
Under New York Lien Law § 19(4), a lien can be discharged by filing a surety bond. This process temporarily removes the mechanic’s lien from the property’s title. The bond guarantees the lienor any payment still due to them, with interest, should they win the case in court. The bond amount typically deposits 110% of the lien’s value with the court.
Who Can File a Bond Discharge?
A surety bond can be filed by anyone with a vested interest in the property, such as the property owner, lender, or contractor working on the construction project.
What Happens After the Bond is Filed?
Once the mechanic’s lien is bonded off, the property title becomes free and clear of the lien. It’s important to note that bonding off a lien doesn’t admit fault, and the lienor is not automatically entitled to payment. The lien must still be enforced through legal channels for the lienor to recover funds.
Contact Us for More Information on Filing to Discharge a Mechanic’s Lien.
Call or email NY Bond Filing Agent today for more information on bonding off a mechanic’s lien.
Jennifer Spinning, Principal
New York Bond Filing Agent
212-500-1229 x 1001 (office)
www.NewYorkBondFiling.com
50 East 42nd Street, New York, NY 10017
Info@NewYorkBondFiling.com
Need to Discharge a Mechanic’s Lien? New York Bond Filing Agent Can Help! If you’ve had a mechanic’s lien filed against you or your construction project, New [...]