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OR PDG Construction Services Sub-Tier Lien Release 2015
Get OR PDG Construction Services Sub-Tier Lien Release 2015-2024
SUBTLER LIEN RELEASE (Interim Lien/Claim Waiver) FROM: CONTRACTOR: CONTACT: PROJECT: PHONE: ADDRESS: CONDITIONAL RELEASE UNCONDITIONAL RELEASE Current Month Due Cumulative Payments The undersigned.
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Cumulative FAQ
A lien release, is a legal document that releases a lien filed against a property, vehicle, or another asset. The filing of liens is a form of collateral for debts owed to another party. The person who filed the lien may seize and sell the debtor's asset if the debt remains unpaid.
A lien serves to guarantee an underlying obligation, such as the repayment of a loan. If the underlying obligation is not satisfied, the creditor may be able to seize the asset that is the subject of the lien.
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!
Pay Off the Lien – Once you determine that the lien is valid, the simplest method for removing it is to pay it off. Even if you need to borrow the funds from family or friends, satisfying your debt will allow the property to become unencumbered, sold, and closed.
Mortgage Lien Release: a post-closing document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.
Conditional Related content
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Justification: Building upon the original contract Scope of Work to (3.1.A) ensure...
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