This Unconditional Waiver and Release of Claim of Lien Upon Progress Payment form is for use by a lienor, in consideration of a sum of money, to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a particular date to a customer on the job of an owner of property.
Oregon Unconditional Waiver and Release of Claim of Lien Upon Progress Payment
Category:
State:
Oregon
Control #:
OR-12-09
Format:
Word;
Rich Text
Instant download
Description
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Key Concepts & Definitions
Unconditional Waiver and Release of Claim of Lien: This legal form is used when a subcontractor or supplier relinquishes all rights to place a mechanics lien on a property, usually after receiving final payment. Conditional Waiver: Contrary to the unconditional waiver, this form is used before the payment is clear, releasing lien rights only if the payment goes through. Lien Claim: A claim made against property by a contractor or subcontractor as a security for payment for services rendered.
Step-by-Step Guide on Using an Unconditional Waiver
- Verify completion of work: Ensure all contracted services are completed before signing the waiver.
- Check receipt of final payment: Confirm that the final payment has been made and cleared in your account.
- Review the waiver form: Carefully review the terms of the unconditional waiver and ensure it corresponds to your understanding of the agreement.
- Execute the waiver: Sign the waiver, ideally in the presence of a notary public to verify its authenticity.
- Distribute copies: Provide copies to all relevant parties, including the property owner, general contractor, and your legal counsel.
Risk Analysis
Signing an unconditional waiver and release of claim of lien prematurely can leave contractors and subcontractors without legal recourse if a payment dispute arises after releasing their lien rights. Thus, ensuring the payment has fully cleared is crucial before executing this document.
Best Practices
- Always confirm payment clearance before waiving rights.
- Use clear and precise language in the waiver forms to avoid legal ambiguities.
- Maintain copies of all transactional documents and communication as proof of fulfillment and payment.
Common Mistakes & How to Avoid Them
A common mistake is signing an unconditional waiver before the payment clears. To avoid this, always verify that the funds are available in your bank account before signing off on the waiver.
FAQ
- What is the difference between an unconditional waiver and a conditional waiver? An unconditional waiver releases all rights immediately upon execution, whereas a conditional waiver only takes effect after the payment conditions are met.
- Can I revoke an unconditional waiver once it's signed? No, once signed, an unconditional waiver is legally binding and irrevocable except in cases of fraud or misrepresentation.
How to fill out Oregon Unconditional Waiver And Release Of Claim Of Lien Upon Progress Payment?
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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.
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!
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.
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 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.
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.
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.
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.