Georgia Subordination Agreement - Lien
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How to fill out Subordination Agreement - Lien?
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FAQ
It is a way for a lender or creditor to recoup what is owed to them. Having a lien on your Atlanta house doesn't mean you can't sell it. It simply means you need to satisfy the lien before doing so.
To attach a lien to real estate, the creditor records the judgment with the superior court clerk in the Georgia county where the debtor has real estate now or may have real estate in the future.
File a Notice of Contest A Notice of Contest is a document you file with the county real estate records and mail to the lien claimant, demanding that the lien claimant file suit or have the lien expire within 60 days.
Get a Final Affidavit of Payment When you make your final payment to the contractor, you can have him sign an Affidavit of Payment, stating that he has paid everyone on the job. This will give you a defense to anyone who later files a lien, and will essentially wipe out the lien.
Claim of Lien In Georgia, if payment has not been received for labor, materials or services, a lien claimant must file his Claim of Lien within three months (not 90 days) from the time the last materials, labor or services were delivered or supplied to the project, or its lien rights are deemed forever abandoned.
Judgment Lien The lien holder is able to re-record the judgment every seven years to keep it enforceable; however, if the lien holder fails to re-record the lien within the seven year period, he or she has only three years after that expiration date to re-record it.
Once a lien is properly filed in Georgia, it currently is valid for twelve (12) months from the date the claim became due, which is the last date labor, services, or materials were rendered to the project. ingly, before the twelve month period expires, the lien claimant must perfect the lien.
