This form is a Waiver and Release of a Lien by a Contractor. A contractor waives and releases its lien and right to claim a lien for labor, services, or materials on a construction project described in the document.
The Massachusetts Waiver of Lien is a legal document that releases a party's rights to file a lien against a property in Massachusetts. In construction and real estate projects, subcontractors, suppliers, and laborers often have the right to file a lien if they haven't been paid for their services. However, a waiver of lien allows a party to waive this right in exchange for payment or other agreed-upon compensation. There are two main types of Massachusetts Waivers of Lien: conditional and unconditional. A conditional waiver is typically used when a progress payment is made, meaning the party releasing the lien waives their rights to file a lien only after receiving the payment. On the other hand, an unconditional waiver is usually used when a final payment is made, wherein the party releasing the lien waives their rights to file any lien, regardless of whether the payment has been received. Keywords: Massachusetts, Waiver of Lien, legal document, release, rights, property, construction, real estate, subcontractors, suppliers, laborers, lien, payment, compensation, conditional waiver, unconditional waiver, progress payment, final payment.
The Massachusetts Waiver of Lien is a legal document that releases a party's rights to file a lien against a property in Massachusetts. In construction and real estate projects, subcontractors, suppliers, and laborers often have the right to file a lien if they haven't been paid for their services. However, a waiver of lien allows a party to waive this right in exchange for payment or other agreed-upon compensation. There are two main types of Massachusetts Waivers of Lien: conditional and unconditional. A conditional waiver is typically used when a progress payment is made, meaning the party releasing the lien waives their rights to file a lien only after receiving the payment. On the other hand, an unconditional waiver is usually used when a final payment is made, wherein the party releasing the lien waives their rights to file any lien, regardless of whether the payment has been received. Keywords: Massachusetts, Waiver of Lien, legal document, release, rights, property, construction, real estate, subcontractors, suppliers, laborers, lien, payment, compensation, conditional waiver, unconditional waiver, progress payment, final payment.