Bond to Release a Mechanics Lien – Private Property
The owner or claimant of property against which a lien has been asserted under KRS 376.010 may at any time before a judgment has been rendered enforcing the lien, execute before the County Clerk where the lien was filed, a bond for double the amount of the lien claimed with good sureties to be approved by the clerk. Conditioned upon the obligors satisfying any judgement that may be rendered in favor of the person asserting the lien. The clerk shall preserve the bond and upon its execution, the lien shall be discharged.
SURETY BY A LICENSED INSURER
When accepting a surety bond by an insurance company, the clerk must make certain the insurance company is in good standing with the Kentucky Department of Insurance. Each clerk should have a list of such insurance companies. KRS 304-21.201 (2)(3) states that the county clerks will be provided this list by March 1 of each year. These companies can also be verified by contacting the Kentucky Department of Insurance at 502-564-3630. Their address is PO Box 517 Frankfort KY 40602-0517.
The surety bond is recorded along with the release document.
The document must have:
- The name of the party asserting the lien
- The name of the party the lien is against
- The surety bond must be attached to the release
- There must be a place on the document for the clerk’s approval of the surety
- The bond must be double the amount of the lien
- A Preparation Statement KRS 382.335
- Reference where the lien is recorded (the book and page)
The clerk shall request a return mail address (KRS 382.240)
Indexing: The first party is the person producing the bond. The second party is the person the lien is against.
Boyd County Clerk
Boyd County Courthouse
2800 Louisa St.
Catlettsburg, Ky. 41129
Phone: (606) 739-5116
Email: [email protected]
Cedar Knoll Mall
Phone: (606) 929-9595
335 16th Street
Ashland, Ky. 41101
Phone: (606) 325-3547