This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Arkansas Release of Mechanic's or Construction Lien
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Multi-State
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US-01028BG
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FAQ
A lien that has priority over another lien is called a "superior" lien. A low-priority lien is called a "junior" lien. If a home has more than one lien, priority determines the lienholders' rights following a foreclosure sale.
Removing a Lien from Your Arkansas Title Your lienholder will likely send you a completed Official Release of Lien (Form 10-315). To apply for a lien-free title in Arkansas, visit your local AR State Revenue Office and: Bring the lien release form provided by the lienholder.
(a) The lien provided for in this subchapter shall take precedence over, and be superior to, any mortgage or other obligation attaching against the property in all cases in which the holder of the mortgage or other obligation shall permit the property to remain in the possession of and be used by the person owing and ...
Keep in mind: In Arkansas, a creditor's ability to collect under a judgment lien will be affected by a number of factors -- including a fixed amount of value that won't be touchable if the property is the debtor's primary residence (called a homestead exemption), other liens that may be in place, and any foreclosure or ...
Tax liens are involuntary and occur when a homeowner does not pay their federal, state, or local taxes. If this happens, a tax lien is placed against your property. This lien takes priority over all other liens and stays there until the debt is completely paid.
Liens generally follow the "first in time, first in right" rule, which says that whichever lien is recorded first in the land records has higher priority than later recorded liens. For example, a mortgage has priority over a judgment lien if the lender records it before the judgment creditor records its lien.
Once filed, an Arkansas mechanics lien claim is only valid for a period of 15 months from the date the claim was recorded. Failure to file an enforcement action within that timeframe will cause the claim to expire, and no longer be enforceable.
A mechanics lien in Arkansas is filed within 120 days after the last substantial work was performed on a property. This 120-day deadline is strictly enforced. Your Arkansas Notice of Intent to Lien must be served at most 10 days before this 120-day deadline to ensure that you can file a valid Arkansas mechanics lien.
