The right to execute and deliver a stop notice or a notice to withhold funds is a remedy closely related to a mechanic's lien. When a stop notice or a notice to withhold funds is received by an individual or a firm holding the construction funds for a project, the individual or firm must withhold from its disbursements sufficient money to satisfy the stop notice claim. In this form, the claimant is informing the appropriate court clerk that he has settled the claim and is authorizing the court clerk to discharge of record the Stop Notice.
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.
Maine Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds is a legal document that releases or satisfies a stop notice claim or notice to withhold funds in the state of Maine. Stop notice or notice to withhold funds can be filed by a contractor, subcontractor, or supplier who has not been paid for labor, services, or materials provided on a construction project. The Maine Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds is used when the claimant has been paid in full or has reached a settlement with the property owner, contractor, or other party responsible for payment. By completing this certificate, the claimant acknowledges that they have received the full payment owed to them, and thereby releases any further claims or rights to withhold funds related to the project. When different types of stop notices or notices to withhold funds are filed in Maine, they might be categorized under various scenarios. Some common categories include: 1. Original Stop Notice Claim: This is the initial claim filed by a contractor, subcontractor, or supplier to notify the property owner and other parties involved about the unpaid amount owed to them. It establishes the claimant's right to withhold funds from the project. 2. Verified Stop Notice Claim: A Verified Stop Notice Claim is a claim that has been verified and approved by the court or a designated authority. The claimant must submit supporting documents and evidence to substantiate their claim, which is then reviewed for validity. 3. Notice to Withhold Funds: A Notice to Withhold Funds is similar to a stop notice claim, but it serves as a notice to the property owner or other responsible parties about the amount owed to the claimant. It provides them with a legal obligation to retain or withhold funds from the contractor until the claim is satisfied. 4. Certificate of Satisfaction of Stop Notice Claim or Notice to Withhold Funds: This certificate is used when the claimant has received full payment or has reached a settlement with the responsible party. It is a document of acknowledgment, confirming that the claimant has been properly compensated and thereby releases any further claims or rights to withhold funds. It is important to note that the exact terminology and specific types of certificates or notices may vary based on Maine state laws and regulations. Furthermore, it is advisable to consult with a legal professional or refer to the relevant statutes to ensure compliance with the specific requirements and terminology in Maine.
