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.
Ohio Partial Release of Mechanic's or Construction Lien
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Multi-State
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US-01029BG
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How to fill out Partial Release Of Mechanic's Or Construction Lien?
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FAQ
The Ohio lien release bond must be issued in favor of the lienholder and executed by a sufficient surety. A petition must be made before the court of common pleas for approval of the lien release bond. A notice of a hearing on the petition must be served on the lienholder or his/her agent.
A judgment lien on real estate remains in effect for five years. You may not be able to collect a judgment right away through a judgment lien on real estate, but it will ensure that the property cannot be sold or refinanced within the next five years without dealing with your lien.
Put up Cash or Bond to Replace the Property under Lien This process is governed by Ohio Revised Code section 1311.11. Basically what you are doing is putting up enough money to satisfy the lien, so that the lien gets removed from the real property and instead the lien gets placed on the money or bond.
Ohio's mechanics' lien law is designed to provide protection to contractors, subcontractors, material suppliers, and laborers on construction projects in the event of non-payment. Liens can be placed on property that the lien claimant worked on or supplied materials for.
Aside from paying off a lien, a homeowner generally has three options for dealing with a mechanics' lien: put up a bond to remove the lien from the property, force the lienholder's hand by making them sue on the lien (and in turn have the lien removed if a lawsuit is not filed), or sue the lienholder for wrongfully ...
Ohio law, for example, says that as long as a contractual lien waiver is supported by valuable consideration per the contract, that contractor will be found to have lost lien rights ? to the point where that contractor's lien filed later will be a breach of the contract and they will be liable for the owner's damages ...
About Ohio Final Unconditional Lien Waiver Form Signing this waiver signifies that payment has been received and no further payments are expected following the payment described in the waiver. Because this oh lien waiver form is unconditional, it should only be used when payment has actually been received.
If the the owner does not file a Notice to Commence Suit, the Mechanics' Lien expires after 6 years. After the lien has been satisfied or adjudged against the subcontractor, the lienholder has 30 days to release the lien, or be held liable for damages and costs.