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.
North Carolina Partial Release of Mechanic's or Construction Lien is a legal document that contractors, subcontractors, or suppliers in North Carolina can use to release a portion of their lien rights on a property. This release allows them to partially remove the lien claim against the property while still preserving the lien rights for the remaining unpaid amount. A construction lien, also known as a mechanic's lien, is a legal claim that can be filed by those who provide labor, materials, or services for a construction project. It ensures that they have a right to payment for their work and materials used. In certain situations, a contractor or supplier may agree to release a portion of their lien rights in exchange for partial payment or a negotiated settlement. One type of North Carolina Partial Release of Mechanic's or Construction Lien is the Partial Release of Lien Claim. This document is used when a contractor or supplier wants to release a specific portion of their lien rights on a property. It is typically used when a partial payment has been made, or when a settlement has been reached for a certain portion of the work or materials. Another type is the Conditional Partial Waiver of Lien Rights. This document is used when a contractor or supplier agrees to waive a portion of their lien rights upon fulfillment of certain conditions. For example, they may agree to release their lien rights for work completed up to a certain date, subject to full payment for that specific portion of work. The North Carolina Partial Release of Mechanic's or Construction Lien typically includes essential information such as: 1. Parties involved: The contractor, subcontractor, or supplier releasing the lien rights and the property owner or general contractor. 2. Property description: The address or legal description of the property that the lien is being released from. 3. Lien amount: The total lien amount claimed or the original lien amount on the property. 4. Partial release details: The specific portion of the lien being released, including any conditions or requirements that need to be met for the release to be valid. 5. Consideration: The amount of payment or other compensation received for the partial release, if applicable. 6. Signatures: The signatures of the lien claimant and the property owner or general contractor, indicating their agreement to the partial release. It is crucial to consult with legal professionals or seek legal advice while drafting and executing a North Carolina Partial Release of Mechanic's or Construction Lien, as the specific requirements and procedures may vary depending on the circumstances and the county in which the property is located.
