43-71 - Release of mechanic's lien upon payment into court or filing bond before suit. - Virginia Statutes

§ 43-71. Release of mechanic's lien upon payment into court or filing bondbefore suit.

At any time after the perfecting of any such lien and before a suit bebrought for the enforcement thereof, the owner of the property affectedthereby, the general contractor or other parties in interest may, after fivedays' notice to the lienor, apply to the court having jurisdiction of a suitfor the enforcement of such lien, or to the judge thereof in vacation, forpermission to make such payment into court, or to file such bond, asprescribed in § 43-70, which permission, in either such event, shall begranted by such court, or judge, unless good cause be shown against the sameby some party in interest. Upon the granting of such permission, and thepayment of such money into court, or the filing of such bond, as the case maybe, the property affected thereby shall stand released from such lien.

Such money, or bond, as the case may be, shall be held under the control ofthe court and shall be subject to the final judgment of the courtadjudicating the lien or liens to be valid and determining the amount forwhich the same would have been enforceable against the real estate in anysuit or action thereafter brought for the ascertainment of the rights of theparties in interest, with respect hereto, or, shall be paid out and disposedof as the parties in interest may direct, in the event the matters incontroversy with respect thereto be settled and adjusted between the partieswithout suit or action.

The sureties on any such bond, which may be involved in any suit or actionbrought under the provisions of this section, shall be made parties to suchsuit or action.

(1936, p. 493; Michie Code 1942, § 6437b; 1962, c. 166; 1976, c. 390; 1992,c. 532.)