North Carolina Waiver and Release of Lien by Contractor

• Category: Liens - Construction - Mechanics
• State: Multi-State
• Control #: US-01740
• Format: Word; Rich Text

Description

The lienor in consideration for final and full payment, waives and releases its lien and right to claim a lien for labor, services, or materials furnished during a certain date. A North Carolina Waiver and Release of Lien by Contractor is a legal document that serves as a waiver of a contractor's right to file a mechanic's lien against a property owner or project in the state of North Carolina. This document is typically used in the construction industry to ensure that contractors and subcontractors receive timely payment for the work they have completed and to protect the property owner's interests. By signing this waiver and release of lien, the contractor acknowledges that they have been paid in full for the work and services provided. This effectively waives their right to place a lien on the property or file a claim against the owner for any outstanding payments. Keywords: North Carolina, Waiver and Release of Lien, Contractor, mechanic's lien, construction industry, payment, property owner, subcontractor, outstanding payments, legal document. Types of North Carolina Waiver and Release of Lien by Contractor: 1. Conditional Waiver and Release: This type of waiver and release is issued by the contractor in exchange for partial payment. It states that the contractor waives their right to a lien for the specific amount received, but preserves the right to file a lien or claim for any remaining or additional amounts owed. 2. Unconditional Waiver and Release: This waiver and release is issued by the contractor after receiving full payment for the work completed. By signing this document, the contractor waives all rights to file a lien against the property or pursue any further claims for payment. 3. Final Waiver and Release: Similar to the unconditional waiver and release, the final waiver and release is used when the contractor has received full payment and is the final payment for the project. It signifies the completion of all work and assures the property owner that no future claims or liens will be filed. It is important to note that the specifics of these waivers may vary depending on the contractor, project, and agreement between parties. Furthermore, it is advisable to consult with a legal professional to ensure the proper and accurate use of the North Carolina Waiver and Release of Lien by Contractor.

A North Carolina Waiver and Release of Lien by Contractor is a legal document that serves as a waiver of a contractor's right to file a mechanic's lien against a property owner or project in the state of North Carolina. This document is typically used in the construction industry to ensure that contractors and subcontractors receive timely payment for the work they have completed and to protect the property owner's interests. By signing this waiver and release of lien, the contractor acknowledges that they have been paid in full for the work and services provided. This effectively waives their right to place a lien on the property or file a claim against the owner for any outstanding payments. Keywords: North Carolina, Waiver and Release of Lien, Contractor, mechanic's lien, construction industry, payment, property owner, subcontractor, outstanding payments, legal document. Types of North Carolina Waiver and Release of Lien by Contractor: 1. Conditional Waiver and Release: This type of waiver and release is issued by the contractor in exchange for partial payment. It states that the contractor waives their right to a lien for the specific amount received, but preserves the right to file a lien or claim for any remaining or additional amounts owed. 2. Unconditional Waiver and Release: This waiver and release is issued by the contractor after receiving full payment for the work completed. By signing this document, the contractor waives all rights to file a lien against the property or pursue any further claims for payment. 3. Final Waiver and Release: Similar to the unconditional waiver and release, the final waiver and release is used when the contractor has received full payment and is the final payment for the project. It signifies the completion of all work and assures the property owner that no future claims or liens will be filed. It is important to note that the specifics of these waivers may vary depending on the contractor, project, and agreement between parties. Furthermore, it is advisable to consult with a legal professional to ensure the proper and accurate use of the North Carolina Waiver and Release of Lien by Contractor.