This Conditional Waiver and Release of Claim of Lien Upon Final Payment form is for use by a lienor in consideration of the final payment in a certain amount to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a particular date to a customer on the job of the owner of property. This Conditional Waiver and Release of Lien Upon Final Payment is conditioned upon the lienor receiving collected funds in a certain amount for the described work, and if such funds are not received within a particular number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
West Virginia Conditional Waiver and Release of Claim of Lien Upon Final Payment
Category:
State:
West Virginia
Control #:
WV-12-09
Format:
Word;
Rich Text
Instant download
Description Final Release Of Lien
Free preview What Is A Lien Waiver Form
How to fill out Lien Waiver Form?
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What Is A Lien Waiver In Construction Form popularity
Lien Waiver Other Form Names
Contractor Lien Waiver
Final Payment Release Form Pdf
Contractor Conditional Waiver Of Lien
Conditional Lien Waiver Template Word
Supplier Lien Waiver
Conditional Waiver Of Lien Form
Lein Waiver Form
Construction Lien Waiver Form FAQ
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.
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. Amount of the Check. Check Payable To. Exceptions. Claimant's Signature.
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.
It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
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.
Partial lien waivers waive lien rights for a portion of the total contract value. For example, if a material supplier is expecting to be paid $30k for supplies delivered to a project but is to be paid in three installments of $10k each, they might sign a partial lien waiver for $10k for each payment received.
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.
LIen waivers are not required to be notarized. The primary times that a document needs to be notarized is if it is going to be filed with the county recorder or it is an affidavit. There are some other documents that often use notarization, but lien...
This is a legal document where a contractor waives his common law right to hold control and possession over a property or resists to hand over the keys to the Bank when requested to do so, if he is not paid in full. Legal FAQ Guide.