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Lien Waiver


Overview
-A signed Lien Waiver is given by a supplier of materials or services to the owner of a house or other structure to formally acknowledge that there is no right to file a mechanic's lien.  
-One or more lien waivers may be critical to the owner to complete a sale of the property or to secure financing.

When You Need It
-In the course of constructing a new building or improving an existing one, the building contractor or owner will likely contract with a number of different companies and individuals.  
-These suppliers and subcontractors provide materials or construction services (or both) in the course of the construction.  
-Each of these suppliers and subcontractors, if not paid, will often have the right under local law to create a lien on the property to secure payment.  These liens are called "mechanic's liens".  
-This Lien Waiver form is appropriate only if the mechanic's lien has not yet been filed with the court.  If a mechanic's lien has been filed, you will need to check with a local attorney to obtain and file another document in recordable form showing the lien has been satisfied.  

Getting Started

You will need:
-The name and address of the party supplying the materials and/or performing the services on the property.
-The name and address of the party to whom the materials were supplied and/or to whom the services were provided on the property as well as the name and address of the property owner, if different.
-The specific terms of the agreement to provide the materials and/or services.

When to Review and Revise 
-Change in circumstances regarding payment of the party providing the materials and/or services, either in full or in part. 

 

-More information is available regarding this document by clicking here.