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  2. Lien waiver - Wikipedia

    en.wikipedia.org/wiki/Lien_waiver

    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 (of the owner) for the amount paid.

  3. Mechanic's lien - Wikipedia

    en.wikipedia.org/wiki/Mechanic's_lien

    Unlike a lien waiver that negates the right to file a lien in the future, a lien release cancels a lien that has already in effect. Prior to making any payment, the property owner should request a release of lien from every supplier, contractor and subcontractor, which covers the materials used and the work performed on the project.

  4. Statutory holdback - Wikipedia

    en.wikipedia.org/wiki/Statutory_holdback

    Note that the subcontractor is entitled to payment based on quantum meruit, irrespective of whether or not the subcontractor has privity of contract with the owner. In some jurisdictions, there are two or more holdbacks. For example, Ontario, Canada or the British Columbia Builders Lien Act [1] employs both a

  5. General contractor - Wikipedia

    en.wikipedia.org/wiki/General_contractor

    A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. [7] General Contractors are mainly responsible for the overall coordination of a project and may also act as building designer and construction foreman (a tradesman in charge of a crew).

  6. Mortgage liens: What they are and how they work - AOL

    www.aol.com/finance/mortgage-liens-170517279.html

    A lien is a claim that allows a creditor to seize and sell collateral (for example, your home) to pay off unsatisfied debt. In the case of a mortgage, the creditor is your lender. Mortgage lien types

  7. Notice of Intent to Lien - Wikipedia

    en.wikipedia.org/wiki/Notice_of_Intent_to_Lien

    In Mechanic's lien law a Notice of Intent to Lien (also known as a Notice of Intent, a Notice of Intent to File a Mechanics Lien, an intent notice, an NOI, or a notice of non-payment) is a type of preliminary notice that warns the property owner, prime contractor, and/or other party on a construction that a mechanics lien or bond claim will be filed unless overdue payments are made within a ...

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