Undertaking to pay judgment and cost
Sec. 11. (a) In an action to foreclose a lien:
(1) the defendant or owner of the property subject to the lien; or
(2) any person having an interest in the property subject to the
lien, including a mortgagee or other lienholder;
may file in the action a written undertaking with surety to be
approved by the court.
(b) An undertaking filed under this section must provide that the
person filing it will pay any judgment that may be recovered in the
action to foreclose the lien, including costs and attorney's fees
allowed by the court, if the claim on which the judgment is founded
is found by the court to have been a lien on the property at the time
the action was filed.
(c) If an undertaking is filed and approved by the court:
(1) the court shall enter an order releasing the property from the
lien; and
(2) the property shall be discharged from the lien.
As added by P.L.2-2002, SEC.13.
Last modified: May 24, 2006