This Conditional Waiver and Release of Lien Upon Final Payment form is for use by a lienor, in consideration of final payment to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Final Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a specific number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
A Raleigh North Carolina Conditional Waiver and Release of Lien Upon Final Payment is a legal document used in the construction industry to protect the rights of contractors, subcontractors, and suppliers. It is typically issued by these parties upon receiving full payment for the services or materials provided for a construction project. This waiver serves as a confirmation that the contractor or supplier will waive and release their right to file a mechanic's lien or claim against the property owner's title for the specific work or materials covered in the document. However, it is important to note that this waiver is "conditional," meaning it is valid only upon the receipt of full payment. Using relevant keywords, some types of Raleigh North Carolina Conditional Waiver and Release of Lien Upon Final Payment documents are: 1. Unconditional Waiver and Release of Lien Upon Final Payment: This type of waiver becomes effective without any conditions upon the receipt of final payment. It permanently waives the contractor's or supplier's right to file a lien against the property. 2. Partial Conditional Waiver and Release of Lien Upon Final Payment: This waiver is used when a contractor or supplier receives partial payment for the work or materials supplied, and it releases the lien rights only to the extent of the payment received. It is conditioned upon receiving the agreed-upon partial payment. 3. Final Conditional Waiver and Release of Lien Upon Final Payment: This type of waiver is issued when a contractor or supplier receives the final payment for the entire project, and it releases the lien rights completely. However, like other conditional waivers, it is only effective upon the receipt of full payment. These waiver forms are crucial for ensuring smooth relationships between parties involved in a construction project and protecting property owners from potential legal complications arising from unpaid debts or disputes. It is advisable for all parties involved to consult with legal professionals to ensure the appropriate usage and completion of such documents in compliance with Raleigh, North Carolina laws and regulations.
