Ohio Release of Lien for Property

• Category: Liens - Releases and Waivers
• State: Multi-State
• Control #: US-01775-AZ-5
• 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. Ohio Release of Lien for Property is a legal document used to release a lien that has been placed on a property located within the state of Ohio. When a lien is placed on a property, it serves as a claim or security interest against the property until the owed debt or obligation is satisfied. The Ohio Release of Lien for Property is an essential document that allows the lien holder to confirm that the lien is being released and that the property is no longer encumbered. There are various types of Ohio Release of Lien for Property, each serving different purposes depending on the situation. Here are a few common types: 1. Mechanic's Lien Release: This type of release is used when a contractor, subcontractor, or supplier places a lien on a property for unpaid construction or improvement work. Once the debt is settled, the Mechanic's Lien Release is executed to release the lien. 2. Mortgage Lien Release: A Mortgage Lien Release is filed by the mortgagee, usually a bank or financial institution, when the mortgage debt is fully paid off. This release ensures that the property is no longer subject to the mortgage lien. 3. Judgment Lien Release: When a court awards a monetary judgment against a property owner, a judgment lien is placed on the property. Once the judgment is paid off, the Judgment Lien Release is filed to release the lien and clear the property title. 4. Tax Lien Release: This type of release is used to remove a tax lien placed on a property due to unpaid taxes. Once the outstanding taxes, penalties, and interest are settled, the Tax Lien Release is filed to release the lien. 5. Conditional Lien Waiver: A Conditional Lien Waiver is a document that is signed by a contractor or supplier upon receiving a partial payment for work or materials provided. It states that the lien rights are waived upon receiving the payment but may be reinstated if the payment becomes invalid or is not honored. It is important to consult with a qualified attorney or legal professional to ensure the appropriate type of Ohio Release of Lien for Property is used, as the specific requirements may vary depending on the circumstances and the type of lien being released.

Ohio Release of Lien for Property is a legal document used to release a lien that has been placed on a property located within the state of Ohio. When a lien is placed on a property, it serves as a claim or security interest against the property until the owed debt or obligation is satisfied. The Ohio Release of Lien for Property is an essential document that allows the lien holder to confirm that the lien is being released and that the property is no longer encumbered. There are various types of Ohio Release of Lien for Property, each serving different purposes depending on the situation. Here are a few common types: 1. Mechanic's Lien Release: This type of release is used when a contractor, subcontractor, or supplier places a lien on a property for unpaid construction or improvement work. Once the debt is settled, the Mechanic's Lien Release is executed to release the lien. 2. Mortgage Lien Release: A Mortgage Lien Release is filed by the mortgagee, usually a bank or financial institution, when the mortgage debt is fully paid off. This release ensures that the property is no longer subject to the mortgage lien. 3. Judgment Lien Release: When a court awards a monetary judgment against a property owner, a judgment lien is placed on the property. Once the judgment is paid off, the Judgment Lien Release is filed to release the lien and clear the property title. 4. Tax Lien Release: This type of release is used to remove a tax lien placed on a property due to unpaid taxes. Once the outstanding taxes, penalties, and interest are settled, the Tax Lien Release is filed to release the lien. 5. Conditional Lien Waiver: A Conditional Lien Waiver is a document that is signed by a contractor or supplier upon receiving a partial payment for work or materials provided. It states that the lien rights are waived upon receiving the payment but may be reinstated if the payment becomes invalid or is not honored. It is important to consult with a qualified attorney or legal professional to ensure the appropriate type of Ohio Release of Lien for Property is used, as the specific requirements may vary depending on the circumstances and the type of lien being released.