This Conditional Partial Release And Waiver Of Lien form is for use by a corporate or LLC lienor to waive and release its lien and right to claim a lien for labor, services or materials furnished through a specific date to a customer on the job of the owner of the property. This waiver and release is conditioned upon the lienor receiving collected funds in a certain amount for the work, and if the funds are not received within a certain number of days of the date of the waiver, the waiver is void.
The Orange Florida Conditional Partial Release and Waiver of Lien Form Constructionio— - Mechanic Liens - Corporation or LLC is a legal document specific to the state of Florida. It is a critical tool used in the construction industry to release a portion of a claimant's lien rights on a property in exchange for partial payment. This form is typically used when a corporation or limited liability company (LLC) is involved as the claimant in a construction project and wishes to release their lien rights partially upon receiving a portion of the payment owed to them. It ensures that the parties involved in the project comply with Florida's lien laws and protects the interests of both the claimant and the property owner. The Orange Florida Conditional Partial Release and Waiver of Lien Form contains several key sections which include: 1. Introduction: This section outlines the purpose and intent of the form, specifying that it is a conditional waiver and partial release of construction lien rights. 2. Project Information: This section requires details about the construction project, such as the property's address, legal description, and any relevant identification numbers. 3. Claimant Information: Here, the claimant (corporation or LLC) must provide their name, address, contact information, and other identifying details. 4. Owner Information: The owner's name, address, and contact details must be provided. This section ensures that the waiver is directed to the correct property owner. 5. Amount of Partial Payment: The claimant must specify the exact dollar amount they have received, representing a partial payment for their services or materials. 6. Waiver and Release Language: This is the most critical part of the form, containing the legal language that releases the claimant's lien rights. It is essential to review this section thoroughly and ensure it accurately reflects the agreed-upon terms between the parties. 7. Execution and Notarization: The last section requires the claimant's signature, the date of execution, and the presence of a notary public to validate the document. It is important to note that there may be variations of this form for different purposes or situations, such as a Conditional Final Release and Waiver of Lien or an Unconditional Partial Release and Waiver of Lien. These variations may have slightly different language or conditions depending on the specific circumstances of the construction project. Overall, the Orange Florida Conditional Partial Release and Waiver of Lien Form Constructionio— - Mechanic Liens - Corporation or LLC provides a legal framework for contractors, subcontractors, and suppliers to partially release their lien rights while receiving a portion of the payment they are owed. It is a crucial document to maintain transparency and protect the interests of all parties involved in a construction project.
