This Conditional Waiver and Release of Lien Upon Final Payment form is for use by a lienor, in consideration of final payment to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a particular date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Final Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a certain number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
Title: Understanding the Release of Lien Form in New Mexico with Notary — Common Types Explained Introduction: In New Mexico, a Release of Lien form with notary plays a crucial role in legal transactions involving properties. This document helps release any existing liens on a property, ensuring that it can be transferred or sold to a new owner without encumbrances. In this article, we will provide a detailed description of what the Release of Lien form entails, why it requires notarization, and highlight some common types of such forms in New Mexico. 1. What is a Release of Lien Form in New Mexico? The Release of Lien form in New Mexico is a legal document used to officially release or discharge any liens filed against a property. A lien is a legal claim that one party has against another party's property, usually in case of unpaid debts. This form acts as proof that the lien holder acknowledges receiving payment or satisfaction for the debt, thereby releasing their claim on the property. 2. Why is Notary Public Essential for Release of Lien Form? A Release of Lien form in New Mexico typically requires a notary public's involvement to ensure its validity and authenticity. The notary public serves as an impartial official who verifies the identification of signatories, administers oaths, and confirms that the signing parties acknowledge their actions willingly and voluntarily. This notarial act helps protect the interest of all parties involved and provides legal credibility to the document. 3. Common Types of Release of Lien Form in New Mexico: a. General Release of Lien Form: The General Release of Lien form is the most frequently used document to release any type of lien on a property in New Mexico. It is a comprehensive form that covers various scenarios and is suitable for most lien release situations. b. Mechanic's Lien Release Form: This specific type of Release of Lien form relates to the construction industry. It is utilized when contractors, subcontractors, or suppliers who have filed a Mechanic's Lien against a property recognize that their debt has been paid in full. The Mechanic's Lien Release form ensures the lien holder relinquishes their rights to encumber the property due to outstanding payments. c. Mortgage Lien Release Form: A Mortgage Lien Release form is used when a property owner has successfully paid off their mortgage debt. This form releases the lien previously placed on the property by the mortgage lender, indicating that the mortgage has been satisfied and the lien is void. d. Judgment Lien Release Form: If a property has a judgment lien, which occurs when a court awards a monetary judgment against the property owner, this form is used when the judgment is paid in full. The Judgment Lien Release form allows for the release and removal of the lien from the property's title. Conclusion: A Release of Lien form with notary is an essential legal document in New Mexico for releasing any existing liens on a property. Whether it's a General Release of Lien, Mechanic's Lien Release, Mortgage Lien Release, or Judgment Lien Release form, each serves specific purposes in different scenarios. The involvement of a notary public ensures the document's authenticity and provides legal credibility to this crucial process, offering protection to all parties involved in property transactions.
