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If subcontractor forecloses on its mechanic's lien, can we still bond it?

Nyack, NY |

There is a mechanic's lien on our property which was filed by a subcontractor. If the subcontractor commences a foreclosure action, will we still be able to get a release of mechanic's lien bond, or must we get this now, before any foreclosure action and litigation begins?

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Attorney answers 1

Posted

If you have a mechanics lien discharge bond, then the foreclosure is against the bond and not the real property.
You should consult a local attorney familiar with the NY lien law.

If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.

Asker

Posted

But, if they begin a foreclosure against the property before the coop get it's bonded, is it possible to still bond at that point?

Michael T Millar

Michael T Millar

Posted

Yes, you can get bonded before the foreclosure is completed.

Michael T Millar

Michael T Millar

Posted

Once you receive the bond, it should immediately be served on the lienor.