A lien or right to claim a lien may be waived by agreement. A waiver of a lien should be in writing, and the writing should plainly show that the claimant or potential claimant clearly and knowingly intended to waive the lien or right to a lien.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Michigan Waiver of Mechanic's or Construction Lien is a legal document often used in the construction industry to waive or release a contractor's or subcontractor's right to file a mechanic's lien on a property. Mechanic's liens are typically filed when a construction professional is not paid for their services or materials provided to a property. There are two primary types of Michigan Waivers of Mechanic's or Construction Lien: the Conditional Waiver and Release upon Progress Payment and the Unconditional Waiver and Release upon Final Payment. 1. Conditional Waiver and Release upon Progress Payment: This type of waiver is used when a contractor or subcontractor receives a partial payment for completed work or materials provided to the project. By signing this waiver, the party acknowledges receiving the payment and agrees to release any potential lien rights for that specific payment. 2. Unconditional Waiver and Release upon Final Payment: This waiver is executed when a contractor or subcontractor receives the final payment for their work or materials, marking the completion of the project. By signing this waiver, the party confirms full payment and forfeits any further rights to file a mechanic's lien against the property. Both types of waivers provide legal protection to property owners, lenders, and developers by ensuring that contractors and subcontractors have been paid for their services before the project is considered fully settled. These waivers offer transparency and minimize financial risks associated with potential lien claims. It is crucial for all parties involved in a construction project to carefully draft and review Michigan Waivers of Mechanic's or Construction Lien to ensure they comply with state laws and protect everyone's interests. Seeking the advice of a qualified attorney is recommended to ensure the document is legally binding and enforceable.
