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 Michigan Certificate of Satisfaction of Mechanic's or Construction Lien is an essential legal document used to release and eliminate any claims or encumbrances placed on a property as a result of a mechanic's or construction lien. It serves as proof that the lien has been satisfied, and helps restore a property's clear title to its rightful owner. Here are some relevant keywords to understand the concept better: 1. Michigan Mechanic's Lien: A legal claim filed by contractors, subcontractors, or suppliers to secure payments for labor, materials, or services provided for a construction or improvement project in Michigan. 2. Construction Lien: Also known as a mechanic's lien, it is a legal tool used by contractors or suppliers to obtain payment for work performed or materials supplied for a construction project. 3. Satisfaction of Lien: Refers to the process of releasing or discharging a lien through the proper legal channels. The Certificate of Satisfaction of Mechanic's or Construction Lien is the document that accomplishes this. 4. Lien holder: The individual or entity that holds the lien against a property. This can include contractors, subcontractors, suppliers, or anyone who provided services or materials for a construction project. 5. Property Title: The legal document establishing ownership rights to a property. A clear title is one without any liens or claims against it. Types of Michigan Certificate of Satisfaction of Mechanic's or Construction Lien: 1. Full Satisfaction: This type of certificate is issued when the lien holder is fully paid and releases the lien entirely. 2. Partial Satisfaction: When a lien holder receives partial payment, a partial satisfaction certificate may be issued to acknowledge the reduced claim amount while keeping the remaining balance intact. 3. Release of Lien: In some cases, the lien holder may decide to release the lien voluntarily, which can be accomplished by submitting a Release of Lien certificate. This document declares that the lien holder no longer claims a right to file a lien against the property. It is important to consult with an attorney or legal professional to ensure compliance with Michigan state laws regarding the process of filing, satisfying, or releasing mechanic's or construction liens. This general description provides an overview but should not be considered legal advice.
