Nevada Conditional Waiver and Release Upon Progress Payment - Individual
Understanding this form
The Conditional Waiver and Release Upon Progress Payment form is a legal document that allows an individual to formally waive their right to file a lien against a property upon receiving a progress payment. This form ensures that the lien claimant releases any rights they may have to the property in exchange for the payment, provided they have been paid in full for their services or materials related to that property. It is an essential tool for contractors and suppliers who want to maintain good relationships with property owners while protecting their payment rights.
Key parts of this document
- Property name and location to identify the relevant property.
- Undersigned customer's details for accurate referencing.
- Invoice/payment application number to track the payment.
- Payment amount clearly stated for clarity on the transaction.
- Signature section for the lien claimant to affirm the waiver.
- Notary acknowledgment for additional legal validation.
Common use cases
This form should be used when an individual has completed work or provided materials for a property and is receiving payment for a portion of that work. It is particularly useful in construction projects or service agreements where progress payments are made, allowing the individual to formally release any claims against the property in relation to the amount received. It protects both the payee by ensuring they are clear of any lien claims and the payer by confirming that the contractor or supplier is using the funds appropriately.
Who can use this document
- Contractors or subcontractors receiving progress payments for services rendered.
- Suppliers providing materials or equipment for a construction or repair project.
- Individuals engaged in construction projects who need to document payment releases.
How to complete this form
- Identify the property by entering the property name and location.
- Provide the customer's name and the relevant invoice or payment application number.
- Specify the payment amount you are receiving.
- Sign the document to confirm the waiver of any lien rights associated with the payment.
- Have the document notarized if required, ensuring proper legal acknowledgment.
Does this form need to be notarized?
This form must be notarized to be legally valid. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to fill in the payment amount accurately.
- Omitting the property name or location, which can cause confusion.
- Not signing the document before submission.
- Neglecting to notarize the form if required by state laws.
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FAQ
An unconditional release means that there are no restrictions on the release of the lien. This type of lien release is often used in final project documents to confirm that the project is complete, payment has occurred, and you release all future rights to file liens on the project.
Conditional Waiver for Progress or Partial Payment A partial conditional waiver should be used when you are expecting to receive a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
An unconditional partial waiver should be used when you have received a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Exceptions. Claimant's Signature. Claimant's Title. Date of Signature.
An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment. A "Conditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the final payment with certain provisions.
Conditional lien waivers are conditioned upon something (typically the receipt of payment).The party receiving payment maintains its right to file a lien until the check is actually cashed; the party making payment will never face double payment (paying the party they hired and also being faced with a lien).
An unconditional mechanic's lien waiver states the contractor has in fact been paid in full for the stated work. Write the name of the maker of the check in the space provided on the mechanic's lien release form. Fill in the amount of the payment. Write the name of contractor the payment is being made to.
An "Unconditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date with no stipulations. A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed.
