Storey County Release of Prospective Lien by Surety Bond Forms (Nevada)

Form Package

Release of Prospective Lien by Surety Bond

State

Nevada

Area

Storey County

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$27.97

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Included Forms

All Storey County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following Nevada and Storey County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Release of Prospective Lien by Surety Bond Forms:

• Storey County

Including:

• Virginia City

What is the Nevada Release of Prospective Lien by Surety Bond

Releasing a Notice of Right to Lien by Surety Bond in Nevada

The Release of Notice of Lien by Surety Bond is used to obtain the release of all prospective and existing lien rights of lien claimants related to a work of improvement. Under NRS 108.2415(2), to obtain such a release, the principal and a surety must execute and record a surety bond in an amount equal to 1.5 times the amount of the prime contract. So, for example, if the lien amount is for $1,000, bond must be posted for $1,500.

The surety bond release form must include: the title of court and cause of action (if a lawsuit has been filed), name and address of the principal (person giving the bond), the owner's name, and information about the prime contract including parties, amount, date executed, and a summary of the terms.

The principal must record the surety bond in the office of the county recorder in the county in which the property upon which the improvement is located, either before or after the commencement of an action to enforce the lien.

By properly completing and recording this document, the bond becomes a security substitute for any existing or prospective lien on the owner's property.

Contact an attorney with questions about mechanic's liens or surety bonds associated with them.

Our Promise

The documents you receive here will meet, or exceed, the Storey County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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