Lien Waiver Form New York For Contractors

State:
New York
Control #:
NY-14-09
Format:
Word; 
Rich Text
Instant download

Description

The Lien Waiver Form New York for Contractors is a crucial legal document that allows contractors to formally waive their lien rights upon receiving final payment for services rendered. This form is essential for protecting property owners and contractors by ensuring that all dues are settled, thus preventing future disputes over owed payments. It includes crucial sections for the contractor's details, the payment amount, and a declaration of the work completed. Users must fill in specific dates, payment amounts, and property descriptions while ensuring to sign it in the presence of a notary public. It is particularly useful for attorneys, partners, and legal assistants involved in construction projects as it serves to confirm that all obligations have been met. Paralegals and associates can utilize this form to facilitate smoother transactions, thereby mitigating legal risks for clients. Proper usage helps secure payment and protect against potential lien claims, making it a vital tool in the construction industry.
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  • Preview Conditional Waiver and Release of Lien Upon Final Payment
  • Preview Conditional Waiver and Release of Lien Upon Final Payment

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FAQ

Here is a field-by-field breakdown of this form: 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. ... Maker of the Check. ... Amount of the Check. ... Check Payable To. ... Exceptions.

New York Lien Law § 34 provides that any contract, agreement or understanding waiving a right to file or enforce any lien is void as against public policy and wholly unenforceable.

A mechanic's lien can be filed during the course of a construction project when payment becomes due, or it can be filed after the project is completed. However, it must be filed no later than 8 months from the last day that the party asserting the lien (the lienor) performed work or furnished materials for the project.

New York prohibits the waiving of lien rights prior to performance. Furthermore, waivers cannot be made in advance of payment, but only with, or after, payment. New York has no requirement that a lien waiver must be notarized. Furthermore, electronic signatures are valid on all lien waivers.

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Lien Waiver Form New York For Contractors