The Oklahoma Waiver and Release of Lien by Contractor is a legal document used in the construction industry to protect the contractor's rights and liabilities when it comes to filed liens on a property. This document allows contractors to waive any right to file a lien in exchange for payment, ensuring that their payment and business transactions are secured. Keywords: Oklahoma, waiver and release of lien, contractor, construction industry, filed liens, rights and liabilities, payment, business transactions, secured. Types of Oklahoma Waiver and Release of Lien by Contractor: 1. Partial Waiver and Release of Lien: This type of waiver is used when the contractor has received partial payment for their work or services. It releases a portion of the contractor's lien rights while still securing their remaining balance until they receive full payment. 2. Final Waiver and Release of Lien: This waiver is utilized when the contractor receives full payment for their work or services. By signing this type of waiver, the contractor waives any and all lien rights on the property, indicating that they have been completely compensated. 3. Conditional Waiver and Release of Lien: This waiver is contingent upon certain conditions being met, such as the check clearing, funds being received, or other contractual obligations being fulfilled. It ensures that the contractor's lien rights are only waived once specific conditions are satisfied. 4. Unconditional Waiver and Release of Lien: Unlike the conditional waiver, this type is not dependent on any conditions being met. Once signed, it immediately waives the contractor's right to file a lien, regardless of whether full payment has been received. It is important for both contractors and property owners to understand the different types of Oklahoma Waiver and Release of Lien to ensure the protection of their rights and obligations within construction projects. Consulting with a legal professional is always advisable to ensure compliance with relevant laws and regulations.
Oklahoma Waiver and Release of Lien by Contractor
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