While it’s a good thing if your lien is bonded off – as it provides a more secure path to payment – you should still be prepared for a fight. If someone has gone to the time and expense to bond off your lien, they probably don’t want to pay you. Typically, you will have to file a lawsuit to foreclose on the lien that has been transferred. The process is the same, but it ends with the clerk who has actual dollars to secure your lien. In many instances, a better result.
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Alexander Barthet is a board certified construction attorney in Florida and holds a B.S. in mechanical engineering. He manages The Barthet Firm, a ten lawyer construction law firm in Miami, and maintains a construction law blog at www.TheLienZone.com. He can be reached at 305-347-5295 or alex@barthet.com
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