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Bond Off a Lien Notice

We filed a Sworn Statement of Amount Due in Louisiana and infomed the owner. The GC told the owner that he bonded off our claim. I'm not sure what that means, but he said it voided our lien and he would be able to get a clear title form the courthouse. IF this happened shouldn't we have received some type of legal documents or something with proof that this happened?

1 reply

May 18, 2020

You should have received notice and a copy of the bond. It is true that a bond will "clear title" for the owner. However, this should be a good development for you. The bond is either a surety or cash bond, and basically ensures that there are funds available to satisfy your claim once you establish entitlement to the claim. You should consult with an attorney to ensure you comply with all steps needed to "perfect" your bond claim--satisfy requirements needed to trigger liability under the bond. You can obtain a copy of the bond from the GC or by conducting a title search. Good luck to you.

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