A: Yes. Pursuant to A.R.S. §33-1003 you can require your contractor to furnish a payment bond on the project. Once you record the payment bond together with a copy of your contract, along with a legal description of the property, with the County Recorder, no liens can be recorded against the property by subcontractors and suppliers. The subcontractors and suppliers would still have a remedy for non-payment by asserting a claim against the payment bond. Your general contractor still retains his lien rights against the property.
Ask the Legal Professionals, Phoenix Business Journal, June, 2012
Published on Wed, July 18, 2012 in News Articles