Lien Release Bond
noun
A type of surety bond that replaces the property for the purpose of providing a security interest; used to bond off a mechanics lien.
A type of surety bond that is filed with the recorder’s office that replaces the property subject to the lien with the bond. This is typically used by a property owner or GC to remove the lien from the property title, but the lienholder’s claim will remain intact.
Also seen as
- Discharge of Mechanics Lien Bond
