The affiant swears to the truth and accuracy of the statement contained in the affidavit. With this waiver, the lien claimant waives and releases any and all liens or claims against any labor and/or materials bond once final payment has been made.
Yep, they're pretty much the norm in Memphis. Using a subcontractor affidavit and lien waiver is a best practice to keep things smooth and avoid future disputes.
If you skip these documents, you could end up in hot water. You might face unexpected claims or liens against your property, which can be a real headache to deal with.
It's smart to verify the affidavit. While it's designed to assure you that everything's squared away, a little due diligence never hurts to confirm no one is left hanging.
These documents act as shields for property owners. They confirm that all payments are made and reduce the risk of being surprised by future claims from unpaid subcontractors.
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Memphis Tennessee Subcontractor Affidavit and Final Release of Claims and Lien Waiver