Ann Arbor Michigan Partial Unconditional Waiver of Lien - Individual

• Category: Michigan Liens - Construction - Mechanics
• State: Michigan
• City: Ann Arbor
• Control #: MI-08-09
• Format: Word; Rich Text

Description

This form is supplied by a contractor, subcontractor, or supplier, whenever payment is made. It serves as a receipt for payment and serves as notice to the property owner that construction lien rights are being waived. An Ann Arbor Michigan Partial Unconditional Waiver of Lien — Individual is a legal document typically used in the construction industry to waive the right to file a lien on a property for partial payments received by an individual contractor or subcontractor. This waiver assures the property owner that the contractor or subcontractor will not pursue a lien for the specified amount, providing protection against potential legal claims. This type of waiver is commonly used in situations where a contractor or subcontractor has received a partial payment for work completed on a construction project but has not yet received full payment. By signing the Ann Arbor Michigan Partial Unconditional Waiver of Lien — Individual, the contractor or subcontractor acknowledges that they have received the partial payment and agrees not to file a lien for that specific amount. There may be different types of Ann Arbor Michigan Partial Unconditional Waivers of Lien — Individual based on the stage of the construction project or the amount of the payment received. Some common types include: 1. Partial Payment — This waiver is used when a contractor or subcontractor has received a partial payment for work completed but is still owed additional funds for the project. 2. Progress Payment — This waiver is used when a contractor or subcontractor receives periodic payments based on the progress of the construction project. It can be signed at various stages of the project, indicating the waiver for the amount received up to that point. 3. Final Payment — This waiver is used when a contractor or subcontractor has completed the entire project and is receiving the final payment for the work. By signing this waiver, they acknowledge receipt of the final payment and waive any rights to file a lien for that payment. It is essential for both the contractor or subcontractor and the property owner to carefully review and understand the terms of the Ann Arbor Michigan Partial Unconditional Waiver of Lien — Individual before signing. This document protects both parties' interests and ensures a smooth and transparent financial process within the construction project. Consulting with a legal professional may be advisable to ensure compliance with the specific regulations and requirements in Ann Arbor, Michigan.

An Ann Arbor Michigan Partial Unconditional Waiver of Lien — Individual is a legal document typically used in the construction industry to waive the right to file a lien on a property for partial payments received by an individual contractor or subcontractor. This waiver assures the property owner that the contractor or subcontractor will not pursue a lien for the specified amount, providing protection against potential legal claims. This type of waiver is commonly used in situations where a contractor or subcontractor has received a partial payment for work completed on a construction project but has not yet received full payment. By signing the Ann Arbor Michigan Partial Unconditional Waiver of Lien — Individual, the contractor or subcontractor acknowledges that they have received the partial payment and agrees not to file a lien for that specific amount. There may be different types of Ann Arbor Michigan Partial Unconditional Waivers of Lien — Individual based on the stage of the construction project or the amount of the payment received. Some common types include: 1. Partial Payment — This waiver is used when a contractor or subcontractor has received a partial payment for work completed but is still owed additional funds for the project. 2. Progress Payment — This waiver is used when a contractor or subcontractor receives periodic payments based on the progress of the construction project. It can be signed at various stages of the project, indicating the waiver for the amount received up to that point. 3. Final Payment — This waiver is used when a contractor or subcontractor has completed the entire project and is receiving the final payment for the work. By signing this waiver, they acknowledge receipt of the final payment and waive any rights to file a lien for that payment. It is essential for both the contractor or subcontractor and the property owner to carefully review and understand the terms of the Ann Arbor Michigan Partial Unconditional Waiver of Lien — Individual before signing. This document protects both parties' interests and ensures a smooth and transparent financial process within the construction project. Consulting with a legal professional may be advisable to ensure compliance with the specific regulations and requirements in Ann Arbor, Michigan.

Law summary