Real Estate Law
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Since you have a valid lien, you are entitled to the full amount of that lien, regardless of what appears to be a potential offer to settle for less than the amount due. If you choose to accept $500 as full and final payment, then it's OK to keep it. Otherwise, if you plan on eventually collecting the full amount, it should be returned to protect your interest. You have no legal obligation to accept the payment or sign the quitcliam deed. However, it sounds like someone on the other end has a financial interest in having this lien cleared, so a counter offer from you might have good timing and get results. That counteroffer can be made prior to sending back the payment. Any deal reached should be in writing.
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