North Carolina Release of Mechanic's and Materialman's Lien

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-548
• Format: Word; Rich Text

Description

This is a form of a Release of Mechanic's and Materialman's Lien. Keywords: North Carolina, Release of Mechanic's and Material man's Lien, types Description: A North Carolina Release of Mechanic's and Material man's Lien is a legal document used to formally release a lien placed on a property by a contractor, subcontractor, or supplier for unpaid work or materials. This document effectively removes the lien from the property's title, providing assurance to the property owner and potential buyers or lenders. There are two primary types of North Carolina Release of Mechanic's and Material man's Lien, namely: 1. Partial Release of Mechanic's and Material man's Lien: This type of release is utilized when the contractor or supplier receives partial payment for the outstanding debt. It acknowledges a reduction in the claimed amount and releases a portion of the lien, allowing the property owner to clear the title to that extent. 2. Full Release of Mechanic's and Material man's Lien: This type of release is used when the entire outstanding debt has been paid in full. It signifies that the contractor, subcontractor, or supplier has received the complete payment owed and completely removes the lien from the property's title, restoring the owner's full rights and eliminating any encumbrances. To prepare a North Carolina Release of Mechanic's and Material man's Lien, the following information is typically required: 1. Parties Involved: The document should identify the lien holder (contractor, subcontractor, or supplier) as the "releaser" and the property owner as the "released." Include their full names, addresses, and contact information. 2. Property Description: Clearly describe the property impacted by the lien, including its legal description, address, and any other details necessary for accurate identification. 3. Lien Details: State the original date the lien was filed, the amount claimed, and any applicable case or lien number. 4. Payment Details: Specify the amount being paid or the amount to be released if a partial release is being executed. Indicate the payment method and date or include an acknowledgment that the debt has been fully satisfied. 5. Execution: Both the releaser and released must sign and date the document. Notarization may be required for the release to be considered valid and enforceable. It is crucial to follow the specific guidelines set forth by North Carolina laws when drafting and filing a Release of Mechanic's and Material man's Lien. Consulting with an attorney or experienced professional is recommended to ensure compliance and accuracy throughout the process.

Keywords: North Carolina, Release of Mechanic's and Material man's Lien, types Description: A North Carolina Release of Mechanic's and Material man's Lien is a legal document used to formally release a lien placed on a property by a contractor, subcontractor, or supplier for unpaid work or materials. This document effectively removes the lien from the property's title, providing assurance to the property owner and potential buyers or lenders. There are two primary types of North Carolina Release of Mechanic's and Material man's Lien, namely: 1. Partial Release of Mechanic's and Material man's Lien: This type of release is utilized when the contractor or supplier receives partial payment for the outstanding debt. It acknowledges a reduction in the claimed amount and releases a portion of the lien, allowing the property owner to clear the title to that extent. 2. Full Release of Mechanic's and Material man's Lien: This type of release is used when the entire outstanding debt has been paid in full. It signifies that the contractor, subcontractor, or supplier has received the complete payment owed and completely removes the lien from the property's title, restoring the owner's full rights and eliminating any encumbrances. To prepare a North Carolina Release of Mechanic's and Material man's Lien, the following information is typically required: 1. Parties Involved: The document should identify the lien holder (contractor, subcontractor, or supplier) as the "releaser" and the property owner as the "released." Include their full names, addresses, and contact information. 2. Property Description: Clearly describe the property impacted by the lien, including its legal description, address, and any other details necessary for accurate identification. 3. Lien Details: State the original date the lien was filed, the amount claimed, and any applicable case or lien number. 4. Payment Details: Specify the amount being paid or the amount to be released if a partial release is being executed. Indicate the payment method and date or include an acknowledgment that the debt has been fully satisfied. 5. Execution: Both the releaser and released must sign and date the document. Notarization may be required for the release to be considered valid and enforceable. It is crucial to follow the specific guidelines set forth by North Carolina laws when drafting and filing a Release of Mechanic's and Material man's Lien. Consulting with an attorney or experienced professional is recommended to ensure compliance and accuracy throughout the process.