Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment
What is this form?
The Conditional Waiver and Release of Claim of Lien Upon Final Payment is a legal document used by lienors to waive their right to claim a lien after receiving final payment for labor, services, or materials provided. This form ensures that upon receipt of payment, the lienor relinquishes their claim, providing security to the property owner. It is important to note that this waiver is valid only if the lienor receives collected funds as specified in the document.
Key components of this form
- Name and contact information for the lienor and debtor.
- Amount of the lien being waived.
- Description of the services or materials provided.
- Condition regarding the receipt of payment.
- Signature of the lien holder with acknowledgment by a notary public.
When this form is needed
This form is typically used when a contractor or supplier has completed their work on a property and is ready to receive final payment. It protects the property owner by ensuring that the contractor waives their lien rights upon payment, thus preventing any future claims related to the work done. This form is most commonly used in construction and renovation projects.
Intended users of this form
- Contractors providing construction services.
- Suppliers of materials utilized in a project.
- Service providers with a contractual right to file a lien.
How to prepare this document
- Identify the parties involved (lienor and debtor) and enter their names and contact details.
- Specify the amount of the lien being waived and the final payment amount.
- Detail the services or materials provided, including the date range of the work.
- Include a complete legal description of the property in question.
- Sign the form and have it acknowledged by a notary public.
Notarization requirements for this form
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.
Common mistakes
- Failing to accurately enter the final payment amount.
- Not providing a complete legal description of the property.
- Omitting the notarization step, where required.
Benefits of using this form online
- Convenience of downloading and completing the form at your convenience.
- Editability allows users to customize the form as needed.
- Reliability of having a template drafted by licensed attorneys.
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FAQ
A lien is a claim on property to ensure payment of a debt. When you borrow money to purchase a car, the lender files a lien on the vehicle with the state to insure that if the loan defaults, the lender can take the car. When the debt is fully repaid, a release of the lien is provided by the lender.
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.
The undersigned makes this Waiver specifically for the benefit of the Owner and the Owner's lender, and any other person or entity with a legal or equitable interest in the Property.
Bottom Line: Never Sign an Unconditional Lien Waiver Prior to Receiving Payment!If the lien waiver is the only proof the owner has as to whether a particular party has been paid, the owner must be able to rely on it in order for the lien waiver to accomplish its purpose.
A lien waiver is quite common in the construction business. Essentially, it is a document from a contractor, subcontractor, supplier, or another party who holds a mechanic's lien that states they have been paid in full and waive future lien rights to the disputed property.
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.
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.
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 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.
