A Virginia Release of Lien Claim is a legal document used in the state of Virginia to officially release a lien that has been placed on a property or asset. This document certifies that the lien holder (individual or entity) acknowledges receipt of the full payment or satisfaction of the debt, and relinquishes their rights to the property or asset in question. The Virginia Release of Lien Claim is essential in situations where a lien has been placed on a property due to non-payment of debts or obligations. Once the debt is settled, this document serves as proof that the lien has been released, clearing the property owner's title and restoring their ownership rights. Here are a few types of Virginia Release of Lien Claim: 1. Mechanics' Lien Release: This type of release is used in construction or renovation projects, where contractors, subcontractors, or suppliers have filed a lien against the property due to non-payment for their services or materials. Once the outstanding debts are resolved, a Mechanics' Lien Release is issued. 2. Artisan's Lien Release: When artisans or skilled workers provide services or labor, such as repairs or improvements to personal property, they may file a lien to ensure payment. Once the debt is paid, an Artisan's Lien Release is issued to release the lien. 3. Material men's Lien Release: Material suppliers who have not been paid for providing materials for a construction project may file a lien against the property. Upon receiving payment, a Material men's Lien Release is issued to release the lien. 4. Contractor Lien Release: Contractors who have performed work on a property but haven't been paid can file a lien. Once the contractor receives full payment, they issue a Contractor Lien Release to release the lien. Virginia Release of Lien Claims are crucial documents as they protect property owners from potential disputes or complications arising from liens. It is advisable for both the lien holder and the property owner to carefully prepare and execute this document to ensure a smooth and legally compliant lien release process.
Virginia Release of Lien Claim
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How to fill out Release Of Lien Claim?
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FAQ
What is a Notice of Intent to Lien? A Notice of Intent to Lien (NOI) is a document sent to notify certain parties on a construction project of the consequences of non-payment. An NOI is a warning that if payment isn't made, the claimant intends to file a mechanics lien.
But is a notice of interest the same as a property lien? Not necessarily. While a notice of interest is the first step towards filing a property lien, it does not indicate a lien has necessarily been filed.
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Virginia has no requirement that a lien waiver must be notarized. However, if your contract requires a notarized waiver in exchange payment, then the terms of contract apply.
A Virginia mechanic's lien may have the highest priority of any in the United States. The mechanic's lien claimant will have priority over the construction loan bank. The Virginia mechanic's lien will also survive a foreclosure or any other sale of the property. Bankruptcy will not defeat lien rights.
When is the deadline to file a Virginia mechanics lien? In Virginia, a potential lien claimant must file a mechanics lien within 90 days from the last day of the last month in which he furnished labor and/or materials to the project (it must also be within 90 days from the completion or termination of the project).
The lender will manually release your lien by signing and dating the lien release section on the title and mail the title to you directly. When you receive the title, you need to visit a DMV customer service center to apply for a substitute title and have the lien removed from DMV records.
This form advises the party that a lien will be filed if payment is not received within 10 days. Since this is a non required document, you can deliver it electronically, or via mail. Sendinging documents via certified mail always adds another layer of professionalism to your payment practices.
