Pennsylvania Conditional Waiver and Release of Claim of Lien Upon Final Payment
Overview of this form
The Conditional Waiver and Release of Claim of Lien Upon Final Payment is a legal document used by a lienor to waive their right to claim a lien in exchange for final payment. This form is essential for contractors, subcontractors, or suppliers who have provided labor, materials, or services. Unlike a general waiver, this form specifies that the waiver is only valid once the lienor has received the agreed payment, protecting both parties involved in a construction or service contract.
Key components of this form
- Details of the lienor including name, company, and contact information.
- Specification of the final payment amount to be waived.
- Identification of the services or materials provided along with the completion date.
- Conditions under which the waiver is void if payment is not received.
- Signatures of both the lienor and a notary public for verification.
- Legal description of the property tied to the lien claim.
When to use this form
This form should be used when a contractor or supplier is seeking final payment for their work and wants to assure the property owner that they will not pursue a lien claim. It is particularly important in construction settings where multiple parties are involved, and it helps prevent disputes regarding unpaid work or materials.
Who this form is for
- Contractors who have completed work and are awaiting final payment.
- Subcontractors who have provided services or materials on a project.
- Suppliers providing resources like materials or equipment.
- Property owners who require assurance that all liens have been waived prior to making payment.
Instructions for completing this form
- Identify the lienor by filling in the name, company, and contact details.
- Specify the amount of final payment in the appropriate field.
- Enter the dates corresponding to the services provided and the completion date.
- Provide a detailed legal description of the property related to the lien claim.
- Ensure the form is signed by the lienor and notarized as 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.
Common mistakes to avoid
- Failing to provide the complete legal description of the property.
- Not entering the payment amount accurately.
- Omitting the signature of the lienor or the notary.
- Using this form without ensuring payment has been made.
Benefits of using this form online
- Convenient access to the form for immediate use.
- Editable fields make it easy to fill out customized information.
- Secure storage and easy retrieval of the documents.
- Guidance through the completion process to ensure accuracy.
Legal use & context
- This form serves to limit liability by providing proof of payment and waiver of lien claims.
- Failure to comply with the conditions outlined in the form may lead to disputes or legal challenges.
- Understanding local lien laws is crucial as they can vary significantly from one state to another.
Quick recap
- The Conditional Waiver and Release of Claim of Lien Upon Final Payment is essential for protecting both the lienor and the property owner.
- It is vital to ensure that all parties are aware of the conditions attached to the waiver.
- Accurate completion and notarization of the form are necessary for legal enforceability.
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FAQ
The undersigned makes this Waiver specifically for the benefit of the Owner and the Owner's lender, and any other person or entity with a legal or equitable interest in the Property.
A lien waiver is quite common in the construction business. Essentially, it is a document from a contractor, subcontractor, supplier, or another party who holds a mechanic's lien that states they have been paid in full and waive future lien rights to the disputed property.
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.
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 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.
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. Amount of the Check. Check Payable To. Exceptions. Claimant's 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 waiver is quite common in the construction business. Essentially, it is a document from a contractor, subcontractor, supplier, or another party who holds a mechanic's lien that states they have been paid in full and waive future lien rights to the disputed property.
Signing an unconditional lien waiver is enforceable even before you get paid. This means that if you sign an unconditional lien waiver before receiving the money and the property owner ends up not paying up, you have already waived your lien rights because you signed the unconditional lien waiver.
