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"Conditional" Lien Cancellation

Louisiana

I filed a Lien in the state of Louisiana in the amount of $56,782.00. I only filed the lien for the partial amount due on the job, which was a total of approx. $240,000. I was informed that the property is going into foreclosure and the new buyer reached out to me asking to settle the balance and remove the lien. Although the lien is only for $56,782.00, the new buyer is agreeing to settle the entire balance, and lien cancellation, for $120,000. I agreed that I would send a signed lien cancellation in the amount of $120,000. I would like to protect myself by only sending a CONDITIONAL lien cancellation and not an unconditional lien release/cancellation. Where can I get that document to send to this new buyer? Or how else can I protect myself to ensure that he doesn;t just take the Lien Release/Cancellation and not pay nme the $120,000?

1 reply

Apr 14, 2023
There is too much specific information in this post. It may be better for you to call an attorney's office directly. Levelset provides a list of attorneys in each state here: https://www.levelset.com/payment-help/experts/experts-by-state/ . From that directory you may find a law firm in your area to call privately.
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