Ian Todd Kravitz's Answers

If I receive a contractor's final affidavit and release of lien does this release me of any monies owed?

As between you and the contractor you contracted with, you are only released top the extent that you paid the contractor something in exchange for that release. As to any others who may rely upon your release, such as a lender, that release is binding, as long as it is unambiguous. As to subcontractors who may be owed monies, this is never so clean and simple. If for example you recieved a Notice to Owner from a subcontractyor or material supplier, and have not recieved a Final Release of...