New York Release of Lien

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-542
• 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. A New York Release of Lien, also referred to as a Lien Release or Lien Waiver, is a legal document used in the state of New York to declare that a previously filed lien on a property or real estate has been officially released. This document signifies that the property owner or the party who previously owed the debt has fulfilled their payment or debt obligations, rendering the lien invalid. There are two primary types of New York Release of Lien documents: 1. Conditional Release of Lien: This type of release is used when the payment or other conditions specified in the original contract have been met partially, but not fully. It acknowledges that a partial payment has been received while reserving the lien holder's right to claim the remaining balance. The conditional release specifies the amount received and the remaining outstanding amount. 2. Unconditional Release of Lien: This type of release is used when all payment obligations have been satisfied in full. By signing an unconditional release, the lien holder waives any further claims or rights to enforce the lien, ensuring that the property is free from any encumbrances. This document provides a complete release of the lien holder's rights. New York Release of Lien documents are typically issued by the lien holder, who may include a contractor, subcontractor, materials supplier, or any other party that has filed a lien against a property due to unpaid debts or services. These documents are crucial for establishing a clear title to the property, as they remove any cloud on the title caused by the previously filed lien. To create a legally valid New York Release of Lien, it is advisable to consult an attorney or use a trusted legal form service. Including relevant keywords in the document, such as "New York Release of Lien form," "conditional/release of lien," "unconditional lien waiver," and "lien holder rights," can help facilitate the identification and understanding of the document by all parties involved.

A New York Release of Lien, also referred to as a Lien Release or Lien Waiver, is a legal document used in the state of New York to declare that a previously filed lien on a property or real estate has been officially released. This document signifies that the property owner or the party who previously owed the debt has fulfilled their payment or debt obligations, rendering the lien invalid. There are two primary types of New York Release of Lien documents: 1. Conditional Release of Lien: This type of release is used when the payment or other conditions specified in the original contract have been met partially, but not fully. It acknowledges that a partial payment has been received while reserving the lien holder's right to claim the remaining balance. The conditional release specifies the amount received and the remaining outstanding amount. 2. Unconditional Release of Lien: This type of release is used when all payment obligations have been satisfied in full. By signing an unconditional release, the lien holder waives any further claims or rights to enforce the lien, ensuring that the property is free from any encumbrances. This document provides a complete release of the lien holder's rights. New York Release of Lien documents are typically issued by the lien holder, who may include a contractor, subcontractor, materials supplier, or any other party that has filed a lien against a property due to unpaid debts or services. These documents are crucial for establishing a clear title to the property, as they remove any cloud on the title caused by the previously filed lien. To create a legally valid New York Release of Lien, it is advisable to consult an attorney or use a trusted legal form service. Including relevant keywords in the document, such as "New York Release of Lien form," "conditional/release of lien," "unconditional lien waiver," and "lien holder rights," can help facilitate the identification and understanding of the document by all parties involved.