This form is supplied by a corporate or LLC contractor, subcontractor, or supplier, whenever payment is made. It serves as a receipt for payment and serves as notice to the property owner that construction lien rights are being waived. A full, unconditional waiver such as this one indicates that the contractor or subcontractor has been paid in full and thereby waives all rights to a lien.
Michigan Full Unconditional Waiver and Release of Lien by Contractor - Corporation or LLC
Category:
State:
Michigan
Control #:
MI-10A-09
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
The Michigan Full Unconditional Waiver and Release of Lien by Contractor - Corporation or LLC is a legal document that allows contractors to waive and release any construction lien rights against a property once they have received full payment for their work. This waiver is significant in the construction industry as it assures property owners that they will not face any future claims against their property related to unpaid work or materials. By signing this document, contractors confirm that all obligations have been met and that they cannot later file a lien for the services provided.
Who should use this form
This form is primarily intended for contractors who operate as corporations or limited liability companies (LLCs) in Michigan. It is suitable for use in various construction projects, including residential, commercial, or industrial work. Property owners or lessees who engage contractors for improvements to their properties should also consider using this form to obtain peace of mind regarding potential lien issues. By completing this waiver, both parties can ensure the financial transactions are clear and documented, reducing the risk of disputes arising from construction payments.
How to complete a form
To effectively complete the Michigan Full Unconditional Waiver and Release of Lien, follow these steps:
- Fill in the contractor's details: Provide the name of the corporation or LLC at the top of the form.
- Describe the work: Clearly state the nature of the services or materials provided.
- Identify the property: Specify the address or legal description of the property where work was performed.
- Indicate payment received: Confirm that full payment has been received before signing.
- Sign and date the form: Ensure the form is signed and dated correctly, including the title of the person signing.
Once completed, make copies for your records and deliver the signed document to the relevant parties.
Key components of the form
The Michigan Full Unconditional Waiver and Release of Lien includes several key components:
- Identification of the parties: Names and details of the contractor and property owner or lessee.
- Description of work: A clear statement detailing the work performed or materials provided.
- Statement of payment: Confirmation that full payment has been received.
- Signature and date: Signature of the contractor and the date of the waiver.
These components ensure clarity and legal integrity, protecting all involved parties from potential disputes related to lien claims.
State-specific requirements
When using the Michigan Full Unconditional Waiver and Release of Lien, it is crucial to be aware of Michigan's state-specific requirements:
- Ensure compliance with Michigan Compiled Laws § 570.1115, which outlines the proper execution and validity of lien waivers.
- Understand that waivers must be specific to the property in question and cannot be generic.
- Consult with a licensed attorney if there are any uncertainties regarding the form's usage or legal implications.
Adhering to these requirements will help ensure that the waiver is legally binding and enforceable.
Benefits of using this form online
Utilizing the Michigan Full Unconditional Waiver and Release of Lien online offers several advantages:
- Accessibility: Users can easily access and download the form from any location with an internet connection.
- Up-to-date templates: Online services provide the latest versions of legal forms, ensuring compliance with current laws.
- Guidance and support: Many online platforms offer step-by-step instructions and customer support to assist users in completing the form correctly.
- Cost-effectiveness: Online forms are often more affordable than hiring legal services for document preparation.
By leveraging online resources, users can save time and reduce the costs associated with legal documentation.
Common mistakes to avoid when using this form
When completing the Michigan Full Unconditional Waiver and Release of Lien, users should be aware of common mistakes that could compromise the document's validity:
- Incomplete information: Ensure all required fields are filled out completely, including the contractor's name and property description.
- Failure to sign: Do not forget to sign the form. A waiver without a signature is not legally binding.
- Using outdated forms: Always check for the most recent version of the waiver to avoid legal complications.
- Not retaining a copy: Always keep a signed copy for personal records, as this serves as proof of the transaction.
Avoiding these mistakes will help ensure the waiver is effective and legally enforceable.
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FAQ
Conditional lien waivers are provided by contractors or suppliers before they've been paid.The form says they will waive their right to lien once they receive the payment, so they can't file a lien after payment has been received.
It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
An unconditional partial waiver should be used when you have received a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.
As adjectives the difference between unconditional and conditional. is that unconditional is absolute; without conditions, limitations, reservations or qualifications while conditional is limited by a condition.
An "Unconditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date with no stipulations. A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed.
An "Unconditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date with no stipulations. A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed.
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
