Michigan Partial Conditional Waiver of Lien - Individual
Understanding this form
The Partial Conditional Waiver of Lien - Individual is a legal document used by contractors, subcontractors, or suppliers to acknowledge that they have received partial payment for work completed. This form serves as both a receipt for payment and a notice to the property owner that the signer is waiving part of their lien rights. Unlike an unconditional waiver, this waiver is conditional on actual payment being received, allowing the filer to retain lien rights for any unpaid amounts due after the date of the waiver.
What’s included in this form
- Names of the involved parties, including the lien claimant and property owner.
- Description of the work and/or materials being provided.
- Specific property details where the construction is taking place.
- The amount being waived in relation to the payment received.
- Condition stating that the waiver is valid only upon the actual payment of the specified amount.
- Signature blocks for the lien claimant, including printed name and contact information.
Situations where this form applies
This form should be utilized whenever a contractor, subcontractor, or supplier receives a partial payment for work or materials provided on a construction project. It is particularly important in situations where the property owner needs to be informed of the waiver of lien rights. Using this form can help avoid possible disputes over payment and clarify the amount that has been received while protecting the right to pursue additional payments in the future.
Who can use this document
- Contractors providing construction services or materials.
- Subcontractors working on a project under a general contractor.
- Suppliers of materials or equipment for construction.
- Property owners who are making partial payments and want acknowledgment from contractors or suppliers.
Steps to complete this form
- Identify the parties involved by entering the names of the lien claimant and property owner.
- Specify the description of work and materials being provided, along with the property address.
- Enter the amount being waived based on payments received.
- Indicate the date up to which labor or materials were provided.
- Sign the form, and ensure that contact information is clearly printed.
- Retain a copy of the completed form for your records.
Does this document require notarization?
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
Common mistakes to avoid
- Failing to complete all relevant fields, which may lead to invalidity.
- Not specifying the correct amount being waived.
- Omitting the date of the waiver.
- Signing the waiver without verifying that an actual payment was made.
- Using this form without confirming whether it needs to be provided directly to the property owner or their agent.
Benefits of using this form online
- Accessibility: Download the form anytime from anywhere.
- Editability: Fill in the required information at your convenience before printing.
- Reliability: Forms are drafted by licensed attorneys to ensure compliance with state laws.
Form popularity
FAQ
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.
LIen waivers are not required to be notarized. The primary times that a document needs to be notarized is if it is going to be filed with the county recorder or it is an affidavit. There are some other documents that often use notarization, but lien...
A conditional offer letter has specific conditions with it. It means you need to have certain grades or marks for the same, whereas unconditional offer letter has no conditions with it, and reflects that your grades, whether high or low, have been accepted by the University.
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.
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).
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.
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.
