Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment

State:
Oregon
City:
Portland
Control #:
OR-11-09
Format:
Word; 
Rich Text
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Description

This Conditional Waiver and Release of Claim of Lien Upon Progress Payment is for use by a lienor in consideration of a sum of money 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 Progress Payment is conditioned upon the lienor receiving collected funds in for the described work, and if these 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.

Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is a legal document used in the construction industry to release a claim of lien against a property upon receiving progress payment for work completed. This waiver serves as a safeguard for both parties involved in a construction project, ensuring that the contractor or subcontractor receives payment while the property owner is protected from potential liens. There are different types of Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment, which include: 1. Conditional Waiver and Release on Progress Payment: This type of waiver is used when the party performing the work is willing to release their claim of lien upon receiving a progress payment. It is conditional because it is contingent upon the payment being valid and successfully processed. 2. Unconditional Waiver and Release on Progress Payment: This waiver, also known as a final waiver, is used when the contractor or subcontractor has received full and final payment for the completed work. By signing this document, they are giving up their right to file a claim of lien in the future. 3. Partial Conditional Waiver and Release on Progress Payment: This type of waiver is used when only a portion of the progress payment has been made. It releases the claim of lien for the amount that has been paid, while retaining the right to file a lien for any outstanding balance. 4. Partial Unconditional Waiver and Release on Progress Payment: Similar to the partial conditional waiver, this release form is used when a partial payment has been made, but it is an unconditional waiver, meaning the contractor or subcontractor gives up their right to file a claim of lien for the amount paid. In summary, the Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment is an essential legal document in the construction industry to ensure the smooth flow of payments while protecting the interests of all parties involved. The different types of release forms cater to various stages of progress payments and provide clarity regarding lien rights. It is crucial to consult with legal professionals familiar with Portland's construction laws to ensure the accurate completion and execution of these waivers.

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FAQ

NOTICE: THIS DOCUMENT WAIVES THE CLAIMANT'S LIEN, STOP PAYMENT NOTICE, AND PAYMENT BOND RIGHTS EFFECTIVE ON RECEIPT OF PAYMENT. A PERSON SHOULD NOT RELY ON THIS DOCUMENT UNLESS SATISFIED THAT THE CLAIMANT HAS RECEIVED PAYMENT.

A conditional lien waiver lists the amount owed during the period, and is effective upon actual receipt of payment. An unconditional lien waiver lists the amount already paid through the waiver's date and is effective immediately upon signing.

The document you must file to release a mechanic's lien in Oregon is known as a satisfaction of lien form. Once you have received payment from the customer, you must complete and file an Oregon satisfaction of lien form to release a mechanic's lien in Oregon (also known as a construction lien).

You have 75 days to file a lien from: 1. The date you last worked or delivered materials to the property or 2.

Conditional Waiver and Release Upon Final Payment Use this form when the claimant is required to sign a waiver and release in exchange for, or in order to, induce a final payment, and the claimant has not yet been paid. This release is only binding if there is evidence of payment to the claimant.

A lien waiver is a formal, legally binding document stating that the claimant (contractor, subcontractor, or supplier) has received payment for the agreed upon service or materials and therefore waives any rights to file a mechanic's lien on the property.

No, Oregon does not provide or require statutory forms for lien waivers.

Only Three States Require Notarization There are just 3 states where lien waivers must be notarized: Texas, Wyoming, and Mississippi.

A Conditional Contractors Lien Release Form is a legal document basically stating that arrangements have been made to pay the lien by issuing a payment to the lien holder. The lien against the property shall be released only upon the condition that the payment clears the lending or banking institution.

How to complete the Conditional Waiver and Release on Progress Payment form Name of Claimant. The claimant is the party receiving the payment ? in other words, the one waiving their lien rights.Name of Customer.Job Location.Owner.Through Date.Maker of the Check.Amount of the Check.Check Payable To.

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OR-Lien-Release-1 (28-Jan-2011). Forms for Waiver and Release of Lien or Payment Bond Claim 53.Or "indicated" mean "as indicated or indicated on the contract plans. Agreement when a state highway and county road intersect. Nonpayment is on their properties in oregon lien of a lien and taxation. Cotney focuses his second, a mechanics lien is a waiver in a lawyer? Arising out letters.

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Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Progress Payment