This Conditional Waiver and Release of Claim of Lien Upon Progress Payment form is for use by a lienor to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of propert. This Conditional Waiver and Release of Lien upon Progress Payment is conditioned upon the lienor receiving collected funds for the described work. If the funds are not received within a certain number of days of the date of this notice, the Conditional Waiver and Release of Lien is void.
South Carolina Conditional Waiver and Release of Claim of Lien Upon Progress Payment
Category:
State:
South Carolina
Control #:
SC-08-09
Format:
Word;
Rich Text
Instant download
Description Lien Payment Form
Free preview Release Lien Form
How to fill out Sc Lien?
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Conditional Release Lien Form Form popularity
Waiver Release Lien Other Form Names
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Sc Release Lienor FAQ
Conditional lien waivers are conditioned upon something (typically the receipt of payment).The party receiving payment maintains its right to file a lien until the check is actually cashed; the party making payment will never face double payment (paying the party they hired and also being faced with a lien).
Name of Claimant. This is the name the party to be paid, and the party who will be signing the lien waiver document. Name of Customer. Job Location. Owner. Maker of the Check. Amount of the Check. Check Payable To. Exceptions.
The undersigned makes this Waiver specifically for the benefit of the Owner and the Owner's lender, and any other person or entity with a legal or equitable interest in the Property.
LIen waivers are not required to be notarized. The primary times that a document needs to be notarized is if it is going to be filed with the county recorder or it is an affidavit. There are some other documents that often use notarization, but lien...
Satisfy the terms of the loan by paying the balance of the loan back to the lender, including any interest incurred. If you don't receive the lien release, submit a request to your lender for proof that the loan has been satisfied.
It basically states that you've paid the subcontractor what is owed, they accept the payment in full, and they waive the right to put a lien on your property. Simply present this form to the subcontractor with your payment and ask them to sign it. Make sure you get their signature!
The main purpose of a lien waiver is to provide protection to the paying party. In exchange for such payment, the lien waiver waives the payee's right to file a lien for the exact value of the payment they have received.
An unconditional partial waiver should be used when you have received a progress payment on the project. You may be expecting future payments on the project, but are looking to sign a waiver for a specific progress or partial payment that you are receiving.