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A lien waiver is a legal document between a service or product provider and the recipient that waives the provider’s right to file a lien on the property. Construction companies often use it to manage payment for services and supplies.
What Is a Lien Waiver? A lien waiver is a written agreement between a payer and a counterparty where said counterparty gives up their right to place a lien on the payer's property or goods.
A lien waiver is a document signed in exchange for payment that waives the signer’s right to file a lien for the amount specified in the waiver. You can think of lien waivers as the construction industry’s version of a receipt for payment.
A lien waiver is a document provided by a contractor, subcontractor, or supplier that relinquishes their right to file a mechanic’s lien on a project. Simply put, it’s a receipt confirming payment or partial payment.
Lien waivers are documents exchanged at the time of payment in the construction industry. Typically, the party making payment requires the party receiving payment to sign a lien waiver. These documents are important to construction lenders, general contractors, subcontractors, suppliers, and others. In some places, they are also called lien ...
A lien waiver is a document which construction parties complete and exchange as a regular part of the payment process. The party receiving the payment e.g the contractor, will sign a lien waiver in exchange for payment. By signing the waiver, the party receiving payment - in this case the contractor - waives their right to file a mechanics lien.
Essential in the construction world, a lien waiver is a legal document that in its simplest form is a receipt for payment. But unlike most receipts we deal with on a daily basis, this document does more than just show proof of payment.
A lien waiver is a written agreement that, when signed, indicates that the counterparty will give up rights to file a lien against a payer. In other words, when a lien waiver is signed, the signer agrees that all dues have been paid and that they have no right to seize property or goods.
In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property
A lien waiver is a document that a potential lien claimant (aka someone that works your property or project) signs stating that they waive future lien rights against your property for the extent set forth (or the “amount”) in the lien waiver. Essentially, a lien waiver is like a receipt for payment.