North Carolina Waiver of Lien Agreement by Subcontractor

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• Control #: US-OG-413
• Format: Word; Rich Text

Description

This form is used when Surface Owner agrees that a restriction provision is waived (or is amended as described) and is not deemed binding on the Lessee in the Lease. The North Carolina Waiver of Lien Agreement by Subcontractor is a legal document that allows subcontractors to waive their right to place a lien on the property in the event of non-payment for their provided services or materials. This agreement is crucial in the construction industry to protect the interests of both the subcontractor and the property owner. By signing this agreement, the subcontractor acknowledges receiving full payment for their work, and in return, they relinquish their right to place a lien on the property. This waiver ensures that the property owner has a clear title to the property and can proceed with future transactions, such as refinancing or selling. Keywords: North Carolina, waiver of lien agreement, subcontractor, construction industry, legal document, property owner, non-payment, services, materials, lien, clear title, refinancing, selling. Different types of North Carolina Waiver of Lien Agreements by Subcontractors may include: 1. Full Waiver of Lien: This type of waiver indicates that the subcontractor has received full payment for all services and materials provided and waives their right to place any lien on the property. 2. Partial Conditional Waiver of Lien: A partial conditional waiver is used when the subcontractor has received partial payment for their work, but further payments are expected. It waives the right to place a lien for the amount already received. 3. Partial Unconditional Waiver of Lien: This type of waiver is executed when the subcontractor has received partial payment for their work and does not anticipate any further payments. By signing this waiver, they waive the right to place a lien for the amount already received, regardless of future payments. 4. Final Conditional Waiver of Lien: When the subcontractor has completed all work and expects final payment, they may sign this type of waiver. It acknowledges receipt of partial payment and waives the right to place a lien until the final payment is received. 5. Final Unconditional Waiver of Lien: Similar to the final conditional waiver, this type of waiver is executed when the subcontractor has completed all work and has received final payment. Signing this waiver permanently waives their right to place any future liens on the property. Keywords: North Carolina, waiver of lien agreement, subcontractor, full waiver, partial conditional waiver, partial unconditional waiver, final conditional waiver, final unconditional waiver, payment, services, materials, property owner, lien.

The North Carolina Waiver of Lien Agreement by Subcontractor is a legal document that allows subcontractors to waive their right to place a lien on the property in the event of non-payment for their provided services or materials. This agreement is crucial in the construction industry to protect the interests of both the subcontractor and the property owner. By signing this agreement, the subcontractor acknowledges receiving full payment for their work, and in return, they relinquish their right to place a lien on the property. This waiver ensures that the property owner has a clear title to the property and can proceed with future transactions, such as refinancing or selling. Keywords: North Carolina, waiver of lien agreement, subcontractor, construction industry, legal document, property owner, non-payment, services, materials, lien, clear title, refinancing, selling. Different types of North Carolina Waiver of Lien Agreements by Subcontractors may include: 1. Full Waiver of Lien: This type of waiver indicates that the subcontractor has received full payment for all services and materials provided and waives their right to place any lien on the property. 2. Partial Conditional Waiver of Lien: A partial conditional waiver is used when the subcontractor has received partial payment for their work, but further payments are expected. It waives the right to place a lien for the amount already received. 3. Partial Unconditional Waiver of Lien: This type of waiver is executed when the subcontractor has received partial payment for their work and does not anticipate any further payments. By signing this waiver, they waive the right to place a lien for the amount already received, regardless of future payments. 4. Final Conditional Waiver of Lien: When the subcontractor has completed all work and expects final payment, they may sign this type of waiver. It acknowledges receipt of partial payment and waives the right to place a lien until the final payment is received. 5. Final Unconditional Waiver of Lien: Similar to the final conditional waiver, this type of waiver is executed when the subcontractor has completed all work and has received final payment. Signing this waiver permanently waives their right to place any future liens on the property. Keywords: North Carolina, waiver of lien agreement, subcontractor, full waiver, partial conditional waiver, partial unconditional waiver, final conditional waiver, final unconditional waiver, payment, services, materials, property owner, lien.