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 Rhode Island Certificate of Satisfaction of Mechanic's or Construction Lien is a legal document that serves as proof of the full and final payment made by a property owner or contractor to the lien holder, thereby satisfying the previously filed lien. This certificate is crucial for parties involved in construction projects in Rhode Island, as it effectively removes the lien's claim on the property and protects the property owner from potential disputes or encumbrances on the title. By utilizing the Certificate of Satisfaction of Mechanic's or Construction Lien, property owners can ensure they have a clear and marketable title, free from any outstanding construction or mechanic's liens. There are several types of certificates when it comes to the satisfaction of mechanic's or construction liens in Rhode Island. Some commonly used ones include: 1. Partial Satisfaction: This certificate is used when only a portion of the lien amount has been paid, and the lien holder acknowledges the partial payment as satisfaction of a portion of their claim. This allows the property owner to partially release the lien from the title, reflecting the amount paid. 2. Full Satisfaction: This certificate is utilized when the property owner or contractor has made complete payment of the lien amount, thereby satisfying the entire claim. Upon receipt of the full payment, the lien holder acknowledges the satisfaction and releases the lien from the title, confirming that no further claim exists. 3. Mutual Termination: This type of certificate is employed when both parties (property owner and lien holder) mutually agree to terminate the lien. It signifies that the parties involved have reached a settlement or have come to an agreement, resulting in the termination of the lien claim. It is important to note that the Rhode Island Certificate of Satisfaction of Mechanic's or Construction Lien should include essential information such as the parties' names and contact information, a description of the lien being satisfied, the payment amount, date of payment, and the signatures of both parties involved. This document should be filed with the appropriate county or state office responsible for recording and maintaining property records. By utilizing the correct type of certificate and appropriately filing it, property owners and contractors in Rhode Island can effectively satisfy mechanic's or construction liens, protecting their property rights and ensuring a clean title.
