North Carolina Conditional Waiver and Release of Lien Upon Final Payment
About this form
The Conditional Waiver and Release of Lien Upon Final Payment is a legal document used by lienors to waive their right to file a lien in exchange for final payment. It differentiates itself from other waiver forms by being conditioned on the receipt of payment. This form ensures that once the stipulated payment is made, the lienor relinquishes all claims for labor, services, or materials provided up to a specified date.
Main sections of this form
- Names and contact information of the lienor and customer
- Details of the property where services were rendered
- The amount of final payment being waived
- A specific date that the waiver is effective up to
- Conditions under which the waiver becomes void if payment is not received
- Signature and printed name of the lien holder
Situations where this form applies
This form is essential in scenarios where a contractor or supplier has provided labor or materials but has not yet received final payment. It protects their rights while confirming that they will relinquish their lien rights, provided the final payment is successfully made as stipulated.
Who should use this form
- Contractors who have completed work and are awaiting final payment
- Suppliers of materials or services who have issued invoices for payment
- Any party who wants assurance that their lien rights are waived once payment is received
Instructions for completing this form
- Identify and fill out the names and addresses of the lienor and customer.
- Specify the amount of final payment being made.
- Indicate the date through which materials or services were supplied.
- Include details about the property related to the lien claim.
- Have the lien holder sign and print their name at the designated space.
- If required, complete notarization for additional validation.
Notarization requirements for this form
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes to avoid
- Failing to specify the correct date for services provided.
- Not including all necessary contact information.
- Omitting the signature of the lien holder.
- Neglecting to confirm payment has been received before submitting the waiver.
Benefits of using this form online
- Convenience of downloading and filling out at your own pace.
- Editability allows for adjustments as needed before finalizing.
- Reliable templates drafted by licensed attorneys ensure compliance with legal standards.
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FAQ
An unconditional mechanic's lien waiver states the contractor has in fact been paid in full for the stated work. Write the name of the maker of the check in the space provided on the mechanic's lien release form. Fill in the amount of the payment. Write the name of contractor the payment is being made to.
Satisfy the terms of the loan by paying the balance of the loan back to the lender, including any interest incurred. If you don't receive the lien release, submit a request to your lender for proof that the loan has been satisfied.
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.
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.
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!
An unconditional release means that there are no restrictions on the release of the lien. This type of lien release is often used in final project documents to confirm that the project is complete, payment has occurred, and you release all future rights to file liens on the project.
An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment. A "Conditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the final payment with certain provisions.
A lien release is a document that is filed in the public land records as the official notice that the lien is removed. Once payment has been received, a contractor has a duty to remove any lien that was filed against the property.
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.