New York Bond Filing Agent: Discharging Construction Mechanic’s Liens with Surety Bonds

In the bustling construction landscape of New York, mechanic’s liens are a common tool used by contractors, subcontractors, and suppliers to ensure they receive payment for their work and materials. However, for property owners, these liens can become significant obstacles, potentially delaying sales or refinancing efforts. This is where a New York Bond Filing Agent plays a crucial role by providing a streamlined solution through surety bonds to discharge these liens.

What is a Mechanic’s Lien?

A mechanic’s lien is a legal claim against a property for unpaid construction work or supplies. When contractors or suppliers are not paid, they can file a lien against the property, which can lead to complications for property owners, including difficulty in selling or refinancing the property.

What is a surety bond / construction discharge bond?

New York Lien Law § 19(4), allows a lien to be discharged by filing a surety Bond. A surety bond / construction discharge bond 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. 

In conclusion, a New York Bond Filing Agent is an invaluable partner for property owners dealing with mechanic’s liens. Through the use of surety bonds, they offer a reliable solution to discharge liens, ensuring that properties remain free from legal encumbrances and owners can move forward with their plans without delay.

Call New York Bond Filing Agent for a free consultation of your rights.

Jennifer Spinning, Principal of New York Bond Filing Agent.

212-500-1229 or email us at Info@NewYorkBondFiling.com

50 East 42nd Street, New York, NY 10017.

www.NewYorkBondFiling.com or visit our questionnaire: https://newyorkbondfiling.com/file-a-bond/