What is Release of Lien? (Permit Pro Tips) | 305-300-0364

Описание: In this episode of "Permit Pro Tips", we are going to discuss Release of Lien in the Construction Industry.

A Release of Lien is a written statement that removes your property from the threat of lien. When your construction project is coming to its completion, your contractor will request final payment.

You should first request from the contractor, via certified or registered mail, a list of all subcontractors and suppliers who performed labor, or provided services or materials to your property. Make sure that your contractor provides you with an affidavit with final releases from these parties before you make the final payment.

If subcontractors or material suppliers were not paid by the contractor, they may go look to your property for payment, even if you have paid your contractor in full. This means that if a lien is filed against your property, your property could be sold against your will to pay for materials, labor, or other services which your contractor may have failed to pay.

Always require a release of lien from anyone who does work on your property.

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