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Builders, contractors, and suppliers can file a mechanics lien to secure payment for their services and materials if not compensated. This lien prevents the property owner from taking action with their property. To lift the lien, the property owner can obtain a Discharge of Mechanics Lien Bond, which allows them to manage their property as if the lien doesn't exist. The bond ensures that the property owner will pay the contractor the owed amount based on a court's final decision. If payment is not made, the contractor is compensated by the bond, which effectively transfers the lien to the bond instead of removing it entirely. The bond amount must be at least 110% of the lien's face value.
