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Washington Partial Waiver of Lien - with individual and representative...

Washington Partial Waiver of Lien - with individual and representative acknowledgments

Name: Washington Partial Waiver of Lien - with individual and representative acknowledgments
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.57 (364 reviews)

Category:

Washington Real Estate - Liens

State:

Washington

Control #:

WA-1056-08

Format:

Instant download

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Description

This is an official Washington form for use in land transactions, a Partial Waiver of Lien (with individual and representative acknowledgments).

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How to fill out Washington Partial Waiver Of Lien - With Individual And Representative Acknowledgments?

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FAQ

A lien waiver is signed before a lien is actually filed. The party submitting the lien waiver states that they waive the right to lien against the project. In some instances, the property owner or general contractor may request that you sign and deliver a lien waiver before payment is disbursed.

Conditional Waiver for Progress or Partial Payment A partial conditional waiver should be used when you are expecting to receive 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.

Partial lien waivers waive lien rights for a portion of the total contract value. For example, if a material supplier is expecting to be paid $30k for supplies delivered to a project but is to be paid in three installments of $10k each, they might sign a partial lien waiver for $10k for each payment received.

A lien waiver is quite common in the construction business. Essentially, it is a document from a contractor, subcontractor, supplier, or another party who holds a mechanic's lien that states they have been paid in full and waive future lien rights to the disputed property.

Signing an unconditional lien waiver is enforceable even before you get paid. This means that if you sign an unconditional lien waiver before receiving the money and the property owner ends up not paying up, you have already waived your lien rights because you signed the unconditional lien waiver.

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.

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.

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 waivers don't fall into any of those that "need to be notarized."

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).

Washington Partial Waiver of Lien - with individual and representative acknowledgments

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How to fill out Washington Partial Waiver Of Lien - With Individual And Representative Acknowledgments?

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FAQ

When should a lien waiver be signed?

What is a partial conditional waiver?

What is a partial waiver?

How does a lien waiver work?

Should I sign a lien waiver before payment?

What is the difference between a conditional and unconditional waiver?

Why are lien waivers required?

Are lien waivers required to be notarized?

What does a conditional waiver mean?

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