This Conditional Partial Release And Waiver Of Lien form is for use by a corporate or LLC lienor to waive and release its 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 the property. This waiver and release is conditioned upon the lienor receiving collected funds in a certain amount for the work, and if the funds are not received within a certain number of days of the date of the waiver, the waiver is void.
The Broward Florida Conditional Partial Release and Waiver of Lien Form is a legal document specifically designed for construction projects in Broward County, Florida. This form is primarily utilized by corporations or limited liability companies (LCS) involved in the construction industry to release a portion of their lien rights after receiving partial payment for their work. Mechanic liens are legal claims that contractors, subcontractors, suppliers, or other parties involved in a construction project can file against a property as a way to secure their payment. However, in certain cases where the contractor has received partial payment, the Conditional Partial Release and Waiver of Lien Form can be used to release a portion of these lien rights, thereby providing assurance to the property owner and other stakeholders involved in the project. Broward County, being one of the largest counties in Florida, has its own specific form for this purpose. The form includes various sections that need to be filled out accurately, such as: 1. Date: The date when the release and waiver are being executed. 2. Project Information: Details about the construction project, including the property address, legal description, and project owner's name. 3. Claimant Information: Information about the corporation or LLC filing the conditional partial release or waiver, such as their name, address, and contact details. 4. Property Owner Information: Details about the property owner, including their name and address. 5. Contractor Information: Information about the general contractor involved in the project, including their name, address, and contact details. 6. Partial Release Amount: The specific amount of money the claimant has received as partial payment for their work. 7. Description of Work: A detailed description of the work performed by the claimant, including the materials supplied and the labor provided. 8. Notary Acknowledgment: A section where the claimant and notary public sign and affix their seals, thereby verifying the authenticity of the document. It is important to note that there may be variations of the Broward Florida Conditional Partial Release and Waiver of Lien Form, depending on the specific circumstances or preferences of the parties involved. However, the basic purpose and content remain consistent. Other variations may include a Final Release and Waiver of Lien Form, which is used to release all lien rights upon receipt of full payment, or a Conditional Final Release and Waiver of Lien Form, which releases all lien rights once specific conditions, such as final project completion or payment milestones, are met. In conclusion, the Broward Florida Conditional Partial Release and Waiver of Lien Form is a vital document for corporations and LCS working in the construction industry in Broward County. Its purpose is to release a portion of lien rights upon receipt of partial payment, ensuring transparency and trust among all parties involved in the construction project.
