§ 34-28-26. Subordination or release of lien.
Any subordination agreement or release, bearing the signature of any person with authority to sign the agreement or release, or of the person who is designated in a notice of intention under § 34-28-4 as the person whose signature will bind the person filing the notice, which purports to subordinate or release any lien under § 34-28-1, 34-28-2, 34-28-3 or 34-28-7 whether for work done or materials furnished prior to the agreement or release, or thereafter, or both, notwithstanding the fact that no consideration is given therefor, shall be enforceable according to its terms, by any other person who has changed his or her position in any way in reliance upon the subordination agreement or release, whether the other person is otherwise obligated to make the change of position or not.
History of Section.
P.L. 1965, ch. 235, § 1; P.L. 1991, ch. 328, § 1.