What is a Bond or Bond Discharge?
A Bond Discharge (also known as Bonding off a Mechanic’s Lien) is a mechanism for temporarily removing a Mechanic’s Lien from the title of the property. The property owner or contractor can file a Bond against the Mechanic’s Lien. A Bond deposits 110% the value of the Lien with the courts.
The bond guarantees the Lienor any payment that is still due to them with interest should they win the case in a court of law.
