Montana Order to Release Lien and Discharge Bond
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How to fill out Montana Order To Release Lien And Discharge Bond?
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FAQ
The main purpose of a lien waiver is to provide protection to the paying party. In exchange for such payment, the lien waiver waives the payee's right to file a lien for the exact value of the payment they have received.
Negotiate with the contractor who placed the lien (the "lienor" to remove it. Obtain a lien bond to discharge the lien, or. File a lawsuit to vacate the lien.
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.
Fill out the correct mechanics lien form. Send a notice of lien claim. File your mechanics lien with the right county recorder. Release or enforce your mechanics lien.
The simplest way to prevent liens and ensure that subcontractors and suppliers are paid is to pay with joint checks. This is when both parties endorse the check. Compare the contractor's materials or labor bill to the schedule of payments in your contract and the Preliminary Notices.
It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
What does 'Bonding Off a Lien' mean? Typically, in order to move forward with the project, the lien must first be removed. To remove a lien as registered against a property without resolution, an applicant has to deliver to the court acceptable security which stands in place of the lien registered on such 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.
