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. This conditional waiver allows the contractor, subcontractor, or supplier to waive part of their lien based on payments already made but reserves the right to peruse a lien for future payments that have not yet been made.
A Lansing Michigan Partial Conditional Waiver of Lien — Individual is a legal document that allows an individual or contractor to waive their right to place a lien on a property or construction project in exchange for partial payment. This waiver is commonly used in the construction industry as a way to protect property owners from future claims and potential legal disputes. There are different types of Lansing Michigan Partial Conditional Waiver of Lien — Individual, including: 1. Conditional Partial Waiver of Lien: This type of waiver is conditional upon the receipt of partial payment. It states that the individual or contractor waives their right to place a lien on the property up to the amount of the payment received. 2. Unconditional Partial Waiver of Lien: Unlike the conditional waiver, this type of waiver is not contingent on receiving payment. It releases the right to place a lien on the property for the specified amount, regardless of whether the payment has been made or not. Both types of waivers are designed to protect property owners while providing contractors and individuals with a level of assurance that they will receive payment for their services. By signing these waivers, individuals or contractors acknowledge that they have received partial payment and agree not to pursue a lien for that specific amount. It is important to note that a Lansing Michigan Partial Conditional Waiver of Lien — Individual only applies to the specific payment mentioned in the document and does not release any other claims or rights pertaining to unpaid amounts not covered by the waiver. Additionally, the waiver should be fully understood and agreed upon by all parties involved before it is signed to avoid potential disputes or misunderstandings. Overall, a Lansing Michigan Partial Conditional Waiver of Lien — Individual is a crucial document in the construction industry, providing protection and reassurance for both property owners and contractors. It helps facilitate smooth transactions and serves as a legally binding agreement between parties involved.A Lansing Michigan Partial Conditional Waiver of Lien — Individual is a legal document that allows an individual or contractor to waive their right to place a lien on a property or construction project in exchange for partial payment. This waiver is commonly used in the construction industry as a way to protect property owners from future claims and potential legal disputes. There are different types of Lansing Michigan Partial Conditional Waiver of Lien — Individual, including: 1. Conditional Partial Waiver of Lien: This type of waiver is conditional upon the receipt of partial payment. It states that the individual or contractor waives their right to place a lien on the property up to the amount of the payment received. 2. Unconditional Partial Waiver of Lien: Unlike the conditional waiver, this type of waiver is not contingent on receiving payment. It releases the right to place a lien on the property for the specified amount, regardless of whether the payment has been made or not. Both types of waivers are designed to protect property owners while providing contractors and individuals with a level of assurance that they will receive payment for their services. By signing these waivers, individuals or contractors acknowledge that they have received partial payment and agree not to pursue a lien for that specific amount. It is important to note that a Lansing Michigan Partial Conditional Waiver of Lien — Individual only applies to the specific payment mentioned in the document and does not release any other claims or rights pertaining to unpaid amounts not covered by the waiver. Additionally, the waiver should be fully understood and agreed upon by all parties involved before it is signed to avoid potential disputes or misunderstandings. Overall, a Lansing Michigan Partial Conditional Waiver of Lien — Individual is a crucial document in the construction industry, providing protection and reassurance for both property owners and contractors. It helps facilitate smooth transactions and serves as a legally binding agreement between parties involved.
