Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment
What is this form?
The Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used by lienors to waive their lien rights for work performed, in exchange for a specified sum of money. This form is essential for contractors and suppliers as it provides legal assurance that a payment has been received and that they relinquish their claim for labor, services, or materials provided up to a certain date. Unlike an unconditional waiver, this form is contingent upon the receipt of payment, offering protection to both the lienor and the property owner.
Main sections of this form
- Name, address, and contact details of the lienor.
- Name of the debtor and legal description of the property.
- Amount of the lien and relevant tax information.
- Signature of the lien holder and acknowledgment by a notary public.
- Condition under which the waiver becomes void if payment is not received.
When to use this document
This form should be used when a contractor, supplier, or service provider wants to acknowledge receipt of a progress payment while formally waiving their right to file a lien for the work completed up to the specified date. It is typically utilized in construction projects when partial payments are made, helping to ensure that parties involved are clear on the payment status and associated obligations.
Who needs this form
- Contractors providing labor or materials for construction projects.
- Suppliers of materials looking to safeguard their interests upon receiving partial payment.
- Subcontractors involved in multi-tiered construction contracts.
- Anyone wishing to clarify the status of payments related to a property improvement project.
Steps to complete this form
- Identify the lienor's name and contact information at the top of the form.
- Enter details of the debtor, including their name and the property address.
- Specify the amount of the lien and any relevant tax account information.
- Fill in the date the work was completed and the date the waiver was signed.
- Provide the legal description of the property to ensure clarity on the location.
- Have the lienor sign the document in front of a notary public, if required.
Notarization requirements for this form
Notarization is required for this form to take effect. Our online notarization service, powered by Notarize, lets you verify and sign documents remotely through an encrypted video session, available 24/7.
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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.
Mistakes to watch out for
- Not providing a complete legal description of the property.
- Failing to ensure the amount stated matches what was agreed upon for payment.
- Missing the deadline for payment receipt, thus voiding the waiver.
- Not having the signature properly notarized when required by state law.
Benefits of using this form online
- Convenience of downloading and completing the form at your own pace.
- Editability allowing you to input specific case details easily.
- Access to professionally drafted legal language, ensuring accuracy.
Legal use & context
- This form acts as a formal release of lien rights, protecting the lienor from claims in the future.
- It is important to properly execute the waiver to maintain enforceability in disputes regarding unpaid work.
- Liens not released can lead to legal disputes and complications for property transactions.
Quick recap
- The Conditional Waiver and Release of Claim of Lien Upon Progress Payment is vital for managing lien rights and payment assurances.
- Completion requires accurate details and timely notarization.
- Use this form whenever partial payments are made to protect your rights and clarify obligations.
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FAQ
Conditional lien waivers are provided by contractors or suppliers before they've been paid. The key language to look for in these documents is upon payment of an amount, the vendor releases their right to file a lien on the work provided up until a certain date.
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.
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!
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 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.
A waiver is a legally binding provision where either party in a contract agrees to voluntarily forfeit a claim without the other party being liable.Examples of waivers include the waiving of parental rights, waiving liability, tangible goods waivers, and waiver for grounds of inadmissibility.
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.
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.