Michigan Full Conditional Waiver and Release of Lien by Contractor - Individual
About this form
The Full Conditional Waiver and Release of Lien by Contractor - Individual is a legal document used by contractors, subcontractors, or suppliers to confirm receipt of payment for work performed. This waiver indicates that the contractor is relinquishing their rights to place a construction lien against the property upon receipt of a specified payment. Unlike other types of lien waivers, this form provides a conditional release, meaning the rights are waived only when payment is actually received. It serves to protect both the contractor and the property owner during the payment process.
Main sections of this form
- Parties involved: Identification of the contractor, property owner, and specified work.
- Description of work and materials: Detailed information about the services or products provided.
- Payment conditions: Specification that the waiver is contingent on actual payment received.
- Authorship verification: A notice requirement for the property owner if the waiver is not received directly.
- Signatures: Areas for the lien claimant to sign, print their name, and provide contact information.
Situations where this form applies
This form is essential whenever a contractor, subcontractor, or supplier receives payment for services rendered or materials provided in the context of property improvement. It should be used the moment payment is finalized to ensure that the property owner is notified that lien rights are waived. This helps prevent any disputes over unpaid work and provides a clear record of transaction completion.
Who should use this form
This form is intended for:
- Contractors working on property improvement projects.
- Subcontractors providing specialized services or materials.
- Suppliers of construction materials involved in the payment process.
- Property owners seeking to officially document the waiver of lien rights upon payment.
How to complete this form
- Identify the parties: Fill in the names of the contractor and the property owner.
- Specify the property: Provide a description of the property where the improvements were made.
- Describe the work: Clearly detail the work performed or materials supplied.
- Enter the payment condition: State the payment amount that is the basis for the lien waiver.
- Sign and date: The lien claimant should sign and print their name, along with providing their address and telephone number.
Does this document require notarization?
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.
Avoid these common issues
- Failing to fill in all required fields, which can render the form invalid.
- Signing the waiver before receiving payment, negating its purpose.
- Not providing a clear description of the work done or materials supplied.
- Neglecting to retain a copy of the signed waiver for records.
Benefits of completing this form online
- Convenience: Access and complete the form anytime and from anywhere.
- Easy editing: Make changes quickly without needing to start over.
- Legal accuracy: Forms are drafted by licensed attorneys to ensure compliance with state laws.
Form popularity
FAQ
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).
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. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment.
Colorado does not require lien waivers to be notarized in order to be effective.
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.
Conditional lien waivers are provided by contractors or suppliers before they've been paid.The form says they will waive their right to lien once they receive the payment, so they can't file a lien after payment has been received.
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. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
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...
The main purpose of a lien waiver is to provide protection to the paying party. In exchange for such payment, the lien waiver waives the payee's right to file a lien for the exact value of the payment they have received.
