Montana Satisfaction of Judgment, and Request to Release Lien and Discharge Bond
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How to fill out Montana Satisfaction Of Judgment, And Request To Release Lien And Discharge Bond?
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FAQ
A Release of Mechanic's Lien Bond is a type of surety bond that clears the mechanic's lien from the property. These bonds can also be called a Discharge of Mechanic's Lien Bond. By clearing the lien, the owner is free to sell or use the property for other purposes.
A Mechanics Lien Release Surety Bond is a surety bond required if the owner's property has had a lien filed against it.The bond guarantees the contractor who placed the lien any payment that is still due to them with interest and cost should they win the case in a court of law.
At its simplest, a surety bond requires the surety to pay a set amount of money to the obligee if a principal fails to perform a contractual obligation.The surety bond requires the principal to sign an indemnity agreement that pledges company and personal assets to reimburse the surety if a claim occurs.
Discharging bond is a delivery bond that permits a defendant to regain possession of the attached property. It also releases the property from the lien of attachment. It is also termed as dissolution bond.
If you paid cash bail to the court, meaning you paid the full bail amount, you will have that money returned to you after the defendant makes all required court appearances.If a defendant is found not guilty, the bond is discharged; if the defendant pleads guilty, the bond is discharged at the time of sentencing.
A discharge is a type of sentence imposed by a court whereby no punishment is imposed.Once the stated period has elapsed and no further offence is committed then the conviction may be removed from the defendant's record.
The process of bonding off a mechanics lien starts after a claimant has filed a mechanics lien. After the claim is made, a general contractor or a property owner can contact a surety bond company to purchase a surety bond that replaces the value of the lien that was filed against the property.
When the lien is bonded off, the surety company (or, in the case of a general contractor bonding off the lien itself, the general contractor) is guaranteeing payment of a claim if the claimant prevails in court enforcing the claim.
When the lien is bonded off, the surety company (or, in the case of a general contractor bonding off the lien itself, the general contractor) is guaranteeing payment of a claim if the claimant prevails in court enforcing the claim.