A Connecticut mechanic's lien release bond is specifically contemplated under Connecticut General Statutes Section 49-37. The purpose of of the Code is to facilitate the transfer of a parcel of real property by creating a mechanism for removing a mechanic's lien from the land records and substituting for it a surety bond.
Pursuant to subsection (a), "Whenever any mechanic's lien has been placed upon any real estate pursuant to sections 49-33, 49-34 and 49-35, the owner of that real estate, or any person interested in it may make an application to any judge of the Superior Court that the lien be dissolved upon the substitution of a Connecticut mechanic's lien discharge bond with acceptable surety". The surety bond must be conditioned to pay to the lienor or his assigns such amount as a court of competent jurisdiction may adjudge to have been secured by the lien along with interest and costs. If a lien have been "bonded off" pursuant to CT GS Chapter 49, unless an action is brought to recover upon the same within one year from the date of recording the certificate of lien, the Connecticut mechanics lien release bond becomes void.
There are specific steps contemplated under Section (1) of the statute for the "release" of a surety from its obligation. If after one year no action to recover on the lien release bond is then pending before any Connecticut court, then the principal OR the surety may make application to the superior court for the judicial district in which the action may be brought or to any judge of the court, that a hearing be held to determine whether the lien for which the bond was substituted should be declared invalid or reduced.
The statute and helpful citations of pertinent case law on Connecticut mechanic's liens may be viewed here. Precedent cases may be view on the the Connecticut Judicial Branch Law Library on page here.
Connecticut surety bond leader, Surety One, Inc. is THE most responsive underwriter of lien release bonds in the U.S. Our expertise in drafting surety bond forms acceptable to the Connecticut general courts of justice, same day underwriting, immediate bond execution and delivery are unequaled. We underwrite mechanic's lien discharge bonds in all fifty states, Puerto Rico and U.S. Virgin Islands. Call (800) 373-2804, email Underwriting@SuretyOne.com or click here for a live chat for application materials and assistance with your Connecticut mechanic's lien release bond or any other surety need.
Surety bond application review and quoting are free of charge. There is no obligation to purchase.