Arkansas Release of Mechanic's and Materialman's Lien
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How to fill out Release Of Mechanic's And Materialman's Lien?
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FAQ
Typically, it's the responsibility of the seller to pay off the lien on his or her property on or before the day of closing. Most liens are paid off from the proceeds of the sale at the time of closing.
The release of lien document should contain enough information to clear the encumbrance of the claim of lien from the property title. The release names the property owner and the claimant releasing the lien, and references the claim by instrument number and date of filing.
Protect Yourself With a Release of Lien (Lien Waiver) Fortunately, it's a simple process. A Lien Waiver is similar to a receipt. It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property.
A lien is a legal way to secure the payment of a debt. If a lien has been placed on your property to secure payment under a construction contract, you will need to secure a lien release once payment has been made.
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.
For Residential projects, ARKANSAS Code Annotated §18-44-115 mandates that a Preliminary Notice To Owner (Residential) must be served to the Owner of a residential property being improved before labor or materials are provided for the improvement of the property. Delivery should be made in person or by Certified Mail.
(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 ...
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. Provide any of the following: Vehicle registration certificate. License plate number. Title number. OR. Vehicle identification number (VIN). Pay the $10 replacement title fee.
