This is an official Washington form for use in land transactions, a Partial Release of Lien (with representative acknowledgment).
Washington Partial Release of Lien - with representative acknowledgment
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FAQ
Material Lien means any Lien on any Property of the Company or its Subsidiaries (or any income or profits therefrom) having a book value of $1,000,000 or more.
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.
As the name suggests, a partial release of lien (or partial lien release) partially releases a mechanics lien claim. In other words, it reduces the amount claimed to be owed. A partial release of lien is used when some portion of the sum claimed is paid, but not the entire sum.
Key Takeaways. A partial release is a mortgage provision that allows some of the collateral to be released from a mortgage after the borrower pays a certain amount of the loan. Lenders require proof of payment, a survey map, appraisal, and a letter outlining the reason for the partial release.
