This Conditional Waiver and Release of Claim of Lien Upon Progress Payment form is for use by a lienor in consideration of a certain sum to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a specific date to a customer on the job of the owner of property. This Conditional Waiver and Release of Lien Upon Progress Payment is conditioned upon the lienor receiving collected funds for the described work, and if such funds are not received within a particular number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
South Dakota Conditional Waiver and Release of Claim of Lien Upon Progress Payment
Category:
State:
South Dakota
Control #:
SD-13-09
Format:
Word;
Rich Text
Instant download
Description Lien Waiver Template
Free preview South Dakota Lien Waiver Form
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FAQ
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.
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.
A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of the payment.
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).
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!
Conditional lien waivers are provided by contractors or suppliers before they've been paid. The key language to look for in these documents is upon payment of an amount, the vendor releases their right to file a lien on the work provided up until a certain date.
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...