Michigan Partial Unconditional Waiver of Lien by Corporation or LLC
Understanding this form
A Partial Unconditional Waiver of Lien by Corporation or LLC is a legal document used by a corporation or limited liability company (LLC) to relinquish their right to file a construction lien against a contractor. This waiver typically occurs when the contractor has completed specific work or provided materials for improving a property. Unlike other lien waivers, this document is categorized as "unconditional," meaning it is effective immediately upon signing and does not depend on the receipt of payment for the work performed.
Form components explained
- Identification of the corporation or LLC waiving the lien.
- Details about the contractor and the work or materials provided.
- Description of the property subject to the waiver.
- The specific amount for which the lien is being waived.
- Signature section for the lien claimant, including their title and corporation name.
- Notice provisions for the residential property owner or lessee regarding reliance on the waiver.
When to use this document
This form should be used in situations where a corporation or LLC has engaged a contractor to improve a property and wishes to waive their right to a construction lien for the value of materials and labor provided for a specific period. It is especially pertinent when the contractor has completed significant work or delivered materials, and the corporation or LLC wants to streamline payment processes or avoid complications associated with lien claims.
Who should use this form
- Corporations involved in construction projects.
- Limited liability companies (LLCs) that have hired contractors.
- Contractors who are seeking assurance of payment for work completed.
- Property owners hiring contractors who want to verify lien waivers for peace of mind.
How to complete this form
- Identify the corporation or LLC providing the waiver.
- Enter the contractor's name and the description of work or materials provided.
- Specify the property for which the waiver applies.
- Fill in the amount for which the lien is waived.
- Sign and date the form, ensuring all required fields are completed.
Notarization guidance
This form usually doesn’t need to be notarized. However, local laws or specific transactions may require it. Our online notarization service, powered by Notarize, lets you complete it remotely through a secure video session, available 24/7.
Common mistakes
- Failing to fully complete the form before signing.
- Not providing accurate descriptions of the work or materials.
- Omitting the date or signatures, which can render the waiver invalid.
- Using the form without ensuring it aligns with local laws if applicable.
Why use this form online
- Convenience of downloading immediately and editing as needed.
- Access to templates created by licensed attorneys, ensuring legal compliance.
- Secure storage options for important documents, allowing for easy retrieval.
Form popularity
FAQ
Conditional Waiver for Progress or Partial Payment A partial conditional waiver should be used when you are expecting to receive a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.
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.
Conditional lien waivers are conditioned upon something (typically the receipt of payment).The party receiving payment maintains its right to file a lien until the check is actually cashed; the party making payment will never face double payment (paying the party they hired and also being faced with a lien).
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. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
A lien waiver is signed before a lien is actually filed. The party submitting the lien waiver states that they waive the right to lien against the project. In some instances, the property owner or general contractor may request that you sign and deliver a lien waiver before payment is disbursed.
An unconditional partial waiver should be used when you have received a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.
As adjectives the difference between unconditional and conditional. is that unconditional is absolute; without conditions, limitations, reservations or qualifications while conditional is limited by a condition.
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. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
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.
