Washington Code 60.11.140 – Termination statement
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Whenever the total amount of the lien has been fully paid and as otherwise provided in RCW 62A.9A-513 (c) and (d), within twenty days following receipt of an authenticated demand following such full payment of the lien, the lienholder filing a lien shall send to the lien debtor or file with the department of licensing a termination statement for the financing statement. Failure to file a termination statement by the lienholder or the assignee of the lienholder shall cause the lienholder or its assignee to be liable to the debtor for the attorneys’ fees and costs incurred by the debtor to have the lien terminated together with damages incurred by the debtor due to the failure of the lienholder to terminate the lien.
[2000 c 250 § 9A-834; 1991 c 286 § 6; 1986 c 242 § 14.]
NOTES:
Effective date—2000 c 250: See RCW 62A.9A-701.
Terms Used In Washington Code 60.11.140
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Lien debtor: means the person who is obligated or owes payment or other performance. See Washington Code 60.11.010
- Lienholder: means a person who, by statute, has acquired a lien on the property of the lien debtor, or such person's successor in interest. See Washington Code 60.11.010