WHAT ARE THE BOND REQUIREMENTS FOR LIEN FORECLOSURE IN CALIFORNIA? DOES A CONTRACTOR NEED TO BOND THE VALUE OF THE PROPERTY TO FORECLOSE ON A LIEN?
1 reply
Oct 31, 2019
No, there is no "bond requirement" in order for a contractor to file a lawsuit to foreclose upon a mechanics lien. There is such a bond requirement to enforce a private works stop payment notice when there is a third party construction lender, however.
--CN