A subcontractor files a lien for $18,500 on a residential property. The property owner disputes the amount and deposits $20,000 into the court registry. What happens to the lien?
Correct Answer
B) The lien is transferred to the deposited funds
Under Georgia lien law, when a property owner deposits funds equal to or greater than the lien amount into the court registry, the lien is transferred from the property to the deposited funds.
Why This Is the Correct Answer
Under Georgia lien law, when a property owner deposits funds equal to or greater than the lien amount into the court registry, the lien is transferred from the property to the deposited funds.
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Previous Question
A homeowner refuses to pay a contractor's final invoice of $12,000. The contractor wants to file a lien. What document must be filed first in Georgia?
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A Georgia contractor completes work valued at $8,500 and is not paid. How many days after completion of work does the contractor have to file a lien claim?