Pursuant to Colorado Revised Statute section 38-22-118, a corporation who has previously filed a lien statement must file an Acknowledgment of Satisfaction after payment in full of the amount attested to in the lien statement, including the cost of filing and recording said lien. Failure to file this acknowledgment within ten (10) days of the request of the property owner to do so may result in a statutory penalty of $10.00 per day being assessed against the lien claimant.
Centennial Colorado Acknowledgment of Satisfaction of Lien by Corporation or LLC is a legal document that confirms the release or satisfaction of a lien by a corporation or limited liability company (LLC) in Centennial, Colorado. This acknowledgment signifies that the debt secured by the lien has been fully paid off or otherwise satisfied, relinquishing the claim the corporation or LLC had on the property. The Centennial Colorado Acknowledgment of Satisfaction of Lien by Corporation or LLC is an essential legal instrument used in various situations, such as when a company has provided a loan or performed work on a property and has placed a lien on it as security for the debt. Once the corporation or LLC has received the full payment or fulfilled the terms of the agreement, they must acknowledge the satisfaction of the lien. Some relevant keywords associated with the Centennial Colorado Acknowledgment of Satisfaction of Lien by Corporation or LLC may include: 1. Centennial, Colorado: The specific city and state where the acknowledgment is being executed, ensuring compliance with local laws and regulations. 2. Acknowledgment: A formal recognition or declaration by the corporation or LLC regarding the satisfaction of the lien. 3. Satisfaction of Lien: Confirms that the debt secured by the lien has been fully paid off or otherwise satisfied. 4. Corporation: Refers to a legally recognized business entity that has been formed and operates as a corporation under state laws. 5. LLC: Abbreviation for Limited Liability Company, a popular business structure that provides limited liability protection to its owners while maintaining flexibility in management. 6. Legal document: Refers to a written instrument that outlines the terms, agreements, and legalities surrounding the satisfaction of the lien, ensuring clarity and enforceability. 7. Property: Refers to the asset or real estate that was previously subject to the lien and is now being released from it. 8. Debt: Represents the monetary obligation owed by the property owner to the corporation or LLC, which was secured through the placement of the lien. 9. Release or Release of Lien: May refer to the satisfaction or cancellation of the encumbrance on the property once the debt has been fully paid off or otherwise resolved. 10. Security: Represents the collateral or protection the corporation or LLC had in place to secure the debt, ensuring that they can recover their investment in case of default. It is important to note that while the concept of the Centennial Colorado Acknowledgment of Satisfaction of Lien by Corporation or LLC remains consistent, there may be variations or specific types of acknowledgments based on the specific circumstances or requirements outlined by local authorities or governing bodies in Centennial, Colorado.
