Legal Question in Construction Law in Nevada
Release of Lien
I am a Subcontractor that entered into a contract with a General Contractor on a Commercial project. There is a balance owed on this project but the General refused to pay. I liened the property and now he wants the lien released for partial payment (75% of what is owed). He states that he is holding the 25% as security against repairs and also retention.
He will not pay the 75% WITHOUT my releasing the lien so my question is can I release the lien, collect the 75% and the re-record the lien for the balance owed?
If not, what other options do I have under NV law?
Thank you for your time.
1 Answer from Attorneys
Re: Release of Lien
The General Contractor may want to get the owner of project to bond around the unpaid lien balance, under this law:
http://www.leg.state.nv.us/Nrs/NRS-108.html#NRS108Sec2413
Your attorney can explain further.
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