Indiana Mechanic's Lien Release Bond (Lien Discharge Bond ~ Indiana)

Bond Penalty: 150% of Lien Amount, minimum $7,500

An Indiana mechanic's lien release bond is a judicial mechanism that facilitates the immediate dishcarge of a lien placed on a parcel of real property by a contractor or material supplier. Indiana Code IC 32-28-3-11, addresses the lien release undertaking (surety bond), bond penalty and filing requirements however recent legislation has made some modifications. Per Sec. (2), "any person having an interest in the property subject to the lien, including a mortgagee or other lienholder; may file in the action a written undertaking with surety to be approved by the court. (b) An undertaking filed under this section must provide that the person filing it will pay any judgment that may be recovered in the action to foreclose the lien, including costs and attorney's fees allowed by the court, if the claim on which the judgment is founded is found by the court to have been a lien on the property at the time the action was filed."

Per HB 1021, An Indiana mechanic's lien discharge bond must be issued in an amount equal to the greater of one and one half times (150%) of the lien or $7,500. Th surety company issuing the bond must possess a certificate of authority in the State of Indiana and carry and AM Best rating of A-Excellent or better.

Indiana surety bond leader, Surety One, Inc. is THE most agile underwriter of lien discharge bonds. Our expertise in manuscripting bond forms acceptable to the superior court registry, same day bond execution and and authenticated delivery are unmatched. We underwrite mechanic's lien release 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 Indiana mechanic's lien release bond or any other surety need.

Are you a general contractor looking for performance bond capacity? Visit us at PerformanceBond.com.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

What We Need From You

Additional Attachments

  • Copy of Lien