Title: Understanding South Carolina Waiver and Release of Lien by Contractor: Types and Key Information Introduction: In South Carolina, a Waiver and Release of Lien by Contractor is a legal document used in construction projects to protect property owners and provide assurance to contractors and subcontractors. This detailed description aims to provide a comprehensive understanding of this document, its purpose, types, and key elements. 1. Definition and Purpose: A South Carolina Waiver and Release of Lien by Contractor is an agreement that contractors or subcontractors sign to waive their right to place a lien on a property for any unpaid services or materials they have provided. Once signed, it releases the contractor's claim on the property owner's funds allocated for the project. 2. Types of South Carolina Waiver and Release of Lien by Contractor: a. Partial Waiver and Release of Lien: — Contractors or subcontractors may submit a partial waiver and release upon receiving a partial payment for the completed work or materials. — This type of waiver releases the lien claim on the partial payment amount only, preserving the contractor's right to file a lien for any remaining balance. b. Final Waiver and Release of Lien: — Contractors or subcontractors may submit a final waiver and release when they have received full payment for all services or materials provided. — A final waiver extinguishes any lien rights of the contractor, preventing them from making further claims on the project funds. 3. Key Elements of South Carolina Waiver and Release of Lien by Contractor: a. Contractor Information: — Name, address, contact details of the contractor or subcontractor. — Contractor's business identification details, such as tax identification number or license number. b. Property Owner Information: — Name, address, and contact details of the property owner. — Property description or address to identify the specific project. c. Project Information: — Details of the project, including the nature of work or services provided. — Project timeline or duration, start and completion dates if applicable. d. Waiver Date: — The date when the contractor signs and issues the waiver. e. Payment Details: — The amount of payment received, either partial or final, including any additional clarifications on the payment terms and conditions. f. Notary Public or Witness Signature: — Required for legal validity and authentication purposes. Conclusion: Understanding the intricacies of a South Carolina Waiver and Release of Lien by Contractor is crucial for both parties involved in a construction project. By utilizing the appropriate type of waiver, contractors can protect their right to claim unpaid amounts while property owners can have peace of mind knowing their funds are safeguarded. Abiding by the specific guidelines and including the necessary information is essential to ensure the document's legal validity and effectiveness.
South Carolina Waiver and Release of Lien by Contractor
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Section 29-5-10 of the Statute provides, in relevant part, that ?[a] person to whom a debt is due for labor performed or furnished or for materials furnished and actually used in the ?of a [structure] upon real estate?by virtue of an agreement with?the owner?or person having authority from, or rightfully acting ...
Here are the most common ways a lien may be removed: Direct Discharge of Lien. In most cases, after your lien has been filed your customer resolves their account and you need to remove a lien. ... Discharge in Trust. Sometimes liens can be removed "in trust". ... Consent Order/Court Order. ... Failure to prove lien. ... Expiry.
At any time after service and filing of the statement required under Section 29-5-90 the owner or any other person having an interest in or lien upon the property involved may secure the discharge of such property from such lien by filing in the office of clerk of court or register of deeds where such lien is filed his ...
6 months from last furnishing of labor or material. (If civil action to enforce filed within this period, then lien continues for duration of civil action.)
(§ 29-5-430). The owner of property on which labor is being performed or material furnished may protect himself from the imposition of a mechanics' lien by giving notice in writing of his non-responsibility for the payment of such work to the person performing or furnishing such labor or materials. (§ 29-5-80).
State tax liens are active for 10 years. You cannot sell or refinance your property until you pay off your tax lien and receive a clear title.
In South Carolina, a claim of lien must be filed no later than 90 days after the last day on which the claimant furnished labor or materials to the project. Unlike many other states, South Carolina generally allows ?call-back? or warranty work to extend the time period in which a lien may be filed.
If you do not wish to continue any of your liens, no action is required. If you are a lienholder and need to remove a lien from a title, complete the lien release on the front of the title document, submit a letter on company letterhead or you may release the lien electronically on electronic titles.
