A contractor files a lien for $25,000 on a Georgia property. The property owner disputes the amount and wants to post a bond to release the lien. What is the required bond amount?
Correct Answer
C) $37,500
Georgia law requires a bond equal to 150% of the lien amount to discharge a construction lien, so $25,000 × 1.5 = $37,500.
Why This Is the Correct Answer
Georgia law requires a bond equal to 150% of the lien amount to discharge a construction lien, so $25,000 × 1.5 = $37,500.
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