Lien Release Letter For Property In Michigan

State:
Multi-State
Control #:
US-0019LTR
Format:
Word; 
Rich Text
Instant download

Description

The Lien Release Letter for Property in Michigan is a crucial document used to officially release a lien on a property once a debt has been satisfied. This form serves to notify all pertinent parties that the financial obligation has been met, ensuring the property's title is clear for future transactions. Key features of the form include spaces to provide the debtor's information, details about the lien, and a statement confirming the debt's payment status. The form should be filled out accurately with current payment status, including any interest and escrow adjustments. It is essential to be precise about dates and amounts to avoid any disputes. Target users include attorneys, partners, owners, associates, paralegals, and legal assistants who may be handling real estate transactions or resolving disputes. For attorneys and legal assistants, this form simplifies the lien release process, ensuring compliance with state regulations. Owners will benefit from knowing their property title is clear, and paralegals can efficiently manage documentation. Overall, this letter is a vital tool for anyone involved in property finance in Michigan.

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FAQ

(1) The claim of lien of a contractor, subcontractor, supplier, or laborer may at any time be vacated and discharged if a bond, with the lien claimant as obligee, is filed with the county clerk for the county in which the property covered by the lien is located and a copy is given to the obligee lien claimant.

Owners can remove these construction liens from their property in two primary ways: The landowner can contact the county clerk to facilitate its removal if no lawsuit is filed within a year to foreclose the lien. An owner can remove a construction lien through a bonding-off process.

(1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded.

Do Michigan lien waivers need to be notarized? No, the Michigan statutory lien waiver forms do not require notarization in order to be valid, only a signature by the claimant or the claimant's authorized agent is required.

Homeowners can sell properties with liens. For a buyer to take possession of the property, the seller will need to clear title and satisfy all outstanding liens.

Record the Claim of Lien in the County Register of Deeds where the Owner's property is located, within 90 calendar days after last labor or material. Serve a copy of the recorded Claim of Lien on the Owner's Designee within 15 days from date of recording by certified mail or personal delivery.

2809. (1) Unless subsection (2) or (3) applies, a judgment lien expires 5 years after the date it is recorded. (2) Unless subsection (3) applies, if a judgment lien is rerecorded under subsection (4), the judgment lien expires 5 years after the date it is rerecorded.

Lien must be filed within 90 days from last providing materials or labor. An action to enforce a Michigan mechanics lien must be commenced within 1 year from filing of lien. This deadline may not be extended. Notice of furnishing to owner and prime within 20 days after first providing labor or materials.

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Lien Release Letter For Property In Michigan