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This Owner/Seller Affidavit is for seller(s) to sign at the time of closing certifying that, among other assurances, there are no liens on the property being sold, that they are the owners of the property, that there are no mechanic liens on the property and other certifications. This form must be signed and notarized.
South Carolina Affidavit Template Other Form Names
South Carolina Affidavit Sc Affidavit No Owner's Affidavit Sample Affidavit For Property Ownership Owner Affidavit No Lien Affidavit Form Lien Affidavit Form
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Affidavit Of Non Ownership Of Property Interesting Questions
A lien is a legal claim against a property that helps secure a debt owed by the property owner.
South Carolina lien withholding is a process where a certain amount of money is withheld from a contractor's payment as security to cover any potential liens that may arise from subcontractors or suppliers.
In South Carolina, the property owner is responsible for ensuring that the appropriate amount is withheld and remitted to the subcontractors or suppliers.
Lien withholding helps protect property owners from potential legal claims by subcontractors or suppliers who may not have been paid by the contractor.
Typically, 5% of the contract price is withheld for South Carolina lien withholding to cover potential liens.
South Carolina lien withholding should be done at the time the contractor's payment is made by the property owner.
No, the withheld amount should only be released once the property owner is assured that there are no pending liens on the property.
If a subcontractor or supplier files a lien, the amount withheld can be used to satisfy their claim, protecting the property owner from financial liability.
No, South Carolina lien withholding is mandatory and cannot be waived by the property owner.
You can find more information about South Carolina lien withholding in the South Carolina Code of Laws, Title 29, Chapter 5, Section 440.
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