A mechanic's (or construction) lien is a claim created by statute to secure priority of payment for labor performed or materials furnished in the making of improvements on real property. A mechanic's lien attaches to the land as well as improvements on the land. Mechanics' liens are purely statutory in origin, and a mechanic's lien may not exist unless it is expressly created by the terms of a statute. This form is a sample of a certificate of a lienholder that the debt secured by the release has been paid and stating that the lien should be marked discharged in the appropriate land records.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Guam Certificate of Satisfaction of Mechanics or Construction Lien is a legal document that serves as proof of the release or satisfaction of a mechanic's or construction lien filed against a property in Guam. This certificate is crucial for property owners, contractors, and lenders involved in construction projects to ensure that the lien has been properly dealt with. Mechanic's or construction liens are typically filed by contractors, subcontractors, suppliers, or laborers who have provided services or materials for a construction project but have not been adequately compensated. These liens grant them the legal right to claim a portion of the property's value until the outstanding debt is resolved. When the debt is fully satisfied or resolved, the party that has filed the lien must provide a Certificate of Satisfaction to the property owner. This document officially confirms that the lien has been released, and the property is no longer encumbered. There are different types of Guam Certificates of Satisfaction of Mechanic's or Construction Lien, depending on the specific circumstances: 1. Final Release of Lien: This type of certificate is issued when the outstanding debt has been fully paid, and the lien is released entirely. It indicates that the claimant no longer has any legal right or interest in the property. 2. Partial Release of Lien: In cases where the debt is only partially satisfied, a partial release certificate is issued. This document acknowledges the partial payment made by the property owner and releases a portion of the lien, while still retaining a claim to the remaining balance. 3. Waiver of Mechanics Lien Rights: This certificate is used when a party voluntarily waives its right to file a mechanic's or construction lien against the property. It is typically executed at the beginning of a construction project, ensuring that the waiver is in effect from the start. While these are the most common types of Guam Certificates of Satisfaction, other variations may exist depending on the specific circumstances and legal requirements. It is always advisable to consult with an attorney or legal professional familiar with Guam's laws and regulations to ensure compliance and accuracy in the preparation and filing of these certificates.
