38-1a-803. Cancellation of preconstruction or construction lien -- Penalty for failure to cancel timely.
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38-1a-803. Cancellation of preconstruction or construction lien -- Penalty for failure to cancel timely.
(1)After the full amount owing under a preconstruction or construction lien, including costs and cancellation fees, has been paid, a person interested in the property that is the subject of the lien may request the claimant to submit for recording with the office of each applicable county recorder a cancellation of the lien.
(2)Within 10 days after receiving a request under Subsection
(1), the claimant shall submit to the office of each applicable county recorder a cancellation of the preconstruction or construction lien, as applicable.
(3)A claimant who fails to submit a cancellation within the time prescribed in Subsection
(2)is liable to the person who requested the cancellation for $100 for each day after the time prescribed in Subsection
(2)that the cancellation is not submitted, or the person's actual damages, whichever is greater.
Enacted by Chapter 278 , 2012 General Session