How do I release a lien on property I have sold?
Full Question:
I have sold a piece of real estate property and now need to provide a lien release. Please let me know all the forms required to complete this task.
04/30/2009 |
Category: Real Property ยป Liens |
State: Texas |
#16493
Answer:
A lien waiver is a release of a claim of a lien. Such waivers are governed primarily by state laws, which vary by state. Upon signing a lien waiver, all rights to attach a lien to certain property or goods are relinquished. A lien is often waived in order to allow property to be transferred or as a condition to making a payment for work on the property.
The following is a Texas statute:
§ 53.152 Release of Claim or Lien
(a) When a debt for labor or materials is satisfied or paid by collected funds, the person who furnished the labor or materials shall, not later than the 10th day after the date of receipt of a written request, furnish to the requesting person a release of the indebtedness and any lien claimed, to the extent of the indebtedness paid. An owner, the original contractor, or any person making the payment may request the release.
(b) A release of lien must be in a form that would permit it to be filed of record.