General Contractor Lien Waiver Form

State:
Multi-State
Control #:
US-02836BG
Format:
Word; 
Rich Text
Instant download

Description

The General contractor lien waiver form is a crucial legal document that facilitates the assignment of a mechanic's lien from one party, typically a general contractor, to another. This form includes essential components such as the identification of both the assignor and assignee, as well as details about the property and the debt secured by the lien. Users are guided to fill in specific information, including names, addresses, and amounts owed, ensuring clarity in the transaction. The document also serves a clear purpose for its intended audience — attorneys, partners, owners, associates, paralegals, and legal assistants — by streamlining the process of transferring rights to collect on the lien. It empowers the assignee to act on behalf of the assignor, allowing for efficient lien enforcement and debt recovery. Notably, it incorporates exhibits that support the lien's validity, such as the original contract and recorded notice. Overall, this form is not only functional but also pivotal in safeguarding the interests of contractors within the construction industry.
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FAQ

How to complete the Conditional Waiver and Release on Progress Payment formName of Claimant. The claimant is the party receiving the payment in other words, the one waiving their lien rights.Name of Customer.Job Location.Owner.Through Date.Maker of the Check.Amount of the Check.Check Payable To.More items...?

Components of a waiverGet help. Writing a waiver should not be complicated.Use the correct structure. Waivers should be written in a certain structure.Proper formatting.Include a subject line.Include a caution!Talk about the activity risks.Do not forget an assumption of risk.Hold harmless.More items...?

Must a New York lien waiver be notarized? No. New York does not specifically require lien waivers to be notarized. Additionally, electronic signatures are valid signatures in NY, including on lien waivers, despite the fact that New York has not adopted the UETA framework.

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.

Do California lien waivers need to be notarized? No, California lien waivers do not need to be notarized, even though it's common for businesses to ask that waivers be notarized.

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General Contractor Lien Waiver Form