Wyoming Lien Release Form For Minors

State:
Wyoming
Control #:
WY-10-09
Format:
Word; 
Rich Text
Instant download

Description

The Wyoming lien release form for minors is a legal document that allows a lienor to waive their right to a claim for labor, services, or materials provided to a property in exchange for a specified payment. This form is particularly useful for those involved in construction or contracting situations where payment may be contingent upon specific conditions being met. It is essential for attorneys, partners, owners, associates, paralegals, and legal assistants to understand the significance of this document in protecting the interests of clients while ensuring compliance with Wyoming law. Users must fill out the form with accurate details including the lienor's information, payment amount, and property description. When completing the form, it is important to note that the waiver is conditional; should payment not be received by the specified time frame, the waiver becomes void. The form requires the lienor's signature and should be notarized for legal validity. Additionally, this document does not apply to any unpaid retention or subsequent materials furnished post the specified date. Mastery of this form not only aids in effective lien management but also supports legal professionals in their task of safeguarding client rights.
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FAQ

Protect Yourself With a Release of Lien (Lien Waiver) Fortunately, it's a simple process. A Lien Waiver is similar to a receipt. 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.

How to serve a Wyoming notice of intent to lien Prepare the Wyoming notice of intent to lien form. ... Deliver the Wyoming notice of intent to lien to the property owner. ... Serve the Wyoming notice of intent to lien early. ... Serve the notice of intent via certified mail with return receipt requested.

Release details: Provide a statement confirming that the borrower has fully repaid the debt and that the lienholder is relinquishing their legal claim on the property or asset. Include the date when the borrower paid off the debt.

Lien claim (Private): Prime contractor - 150 days after the earlier of (1) last day work was performed or (2) the date the project is substantially complete, whichever is earlier; Subcontractor - 120 days after the earlier of (1) last day work was performed or (2) the date the project is substantially complete, ...

To release a lien or security interest: You must complete and return a termination form (PDF) You must have your Wyoming Certificate of Title. If original lien was filed prior to July 1, 1993 a fee is required - refer to fee schedule (PDF)

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Wyoming Lien Release Form For Minors