House Bill 707 Summary

• Allows potential lien claimants to cancel Notices to Lien Agent through the designated lien agent's Internet website, with a requirement for one- or two-family dwellings to cancel within a reasonable time after confirming final payment.

• Establishes automatic expiration of Notices to Lien Agent after five years from delivery unless renewed or cancelled, with renewal possible for one additional five-year period through the lien agent's website.

• Renewed Notices to Lien Agent maintain their original delivery date for priority purposes, while cancellation or expiration does not affect previously filed claims of lien or lien priority rights.

• Increases lien agent fees from $25.00 to $30.00 for one- or two-family dwelling improvements and from $50.00 to $58.00 for all other improvements.

• Updates attorney closing duties to include checking for renewals and cancellations of Notices to Lien Agent in addition to the original notices.