New York Release of Lien

• Category: Liens - Releases and Waivers
• State: Multi-State
• Control #: US-01775-AZ
• Format: Word; Rich Text

Description

This form is a release of a lien. The form provides that the lienholder chooses to release a certain parcel of property and the owner from all liability arising from the labor performed and materials furnished by the lienholder under the terms of a contract mentioned in the document. A New York Release of Lien is a legal document that serves to release a lien on a property or asset. It is an important document that must be filed in order to clear any encumbrances on the property and provide a proof of ownership. There are different types of New York Release of Lien, each catering to specific situations and needs. Some common types include: 1. Mechanic's Lien Release: This type of release is used in construction projects where a contractor or subcontractor places a lien on a property due to non-payment for services rendered. The release states that the lien holder has been satisfied and the lien is removed from the property. 2. Certificate of Satisfaction of Judgment Lien: This release is filed by a judgment creditor to acknowledge that the judgment has been paid in full or otherwise resolved. It is used when a party has obtained a court judgment against another party and wants to release the associated lien. 3. Tax Lien Release: The New York State Department of Taxation and Finance issues a tax lien against a property or individual for unpaid taxes. A tax lien release is filed once the taxes are paid in full, allowing the release of the lien on the property. 4. Mortgage Lien Release: Commonly known as a discharge of mortgage, this release is filed by the mortgagee (lender) when the borrower has fully paid off the mortgage loan. It releases the lender's claim on the property, allowing the borrower to prove clear ownership. 5. Li's Pendent Lien Release: A Li's Pendent Notice is filed to indicate that a lawsuit has been filed involving a specific property. Once the lawsuit is resolved or withdrawn, a Li's Pendent Lien Release is filed to remove the encumbrance on the property. To obtain a New York Release of Lien, the interested party must prepare the necessary documentation and file it with the appropriate authority, such as the County Clerk's Office. It is crucial to accurately complete the required forms, providing all necessary details, including the property owner's name, lien holder information, and proof of lien satisfaction. In conclusion, a New York Release of Lien is a crucial legal document that allows for the removal of encumbrances on a property. Whether it is a mechanic's lien, judgment lien, tax lien, mortgage lien, or Li's Pendent lien, obtaining the appropriate release is essential to establish clear ownership of the property and ensure its marketability.

A New York Release of Lien is a legal document that serves to release a lien on a property or asset. It is an important document that must be filed in order to clear any encumbrances on the property and provide a proof of ownership. There are different types of New York Release of Lien, each catering to specific situations and needs. Some common types include: 1. Mechanic's Lien Release: This type of release is used in construction projects where a contractor or subcontractor places a lien on a property due to non-payment for services rendered. The release states that the lien holder has been satisfied and the lien is removed from the property. 2. Certificate of Satisfaction of Judgment Lien: This release is filed by a judgment creditor to acknowledge that the judgment has been paid in full or otherwise resolved. It is used when a party has obtained a court judgment against another party and wants to release the associated lien. 3. Tax Lien Release: The New York State Department of Taxation and Finance issues a tax lien against a property or individual for unpaid taxes. A tax lien release is filed once the taxes are paid in full, allowing the release of the lien on the property. 4. Mortgage Lien Release: Commonly known as a discharge of mortgage, this release is filed by the mortgagee (lender) when the borrower has fully paid off the mortgage loan. It releases the lender's claim on the property, allowing the borrower to prove clear ownership. 5. Li's Pendent Lien Release: A Li's Pendent Notice is filed to indicate that a lawsuit has been filed involving a specific property. Once the lawsuit is resolved or withdrawn, a Li's Pendent Lien Release is filed to remove the encumbrance on the property. To obtain a New York Release of Lien, the interested party must prepare the necessary documentation and file it with the appropriate authority, such as the County Clerk's Office. It is crucial to accurately complete the required forms, providing all necessary details, including the property owner's name, lien holder information, and proof of lien satisfaction. In conclusion, a New York Release of Lien is a crucial legal document that allows for the removal of encumbrances on a property. Whether it is a mechanic's lien, judgment lien, tax lien, mortgage lien, or Li's Pendent lien, obtaining the appropriate release is essential to establish clear ownership of the property and ensure its marketability.