Minnesota law does not have a specific provision for the release of a lien. However, this form is a general use form that would allow a lien holder to provide notice that the lien is released after being paid in full.
Hennepin Minnesota Satisfaction of Mechanic's Lien By Business Entity CBCBC Form 40.3.2 is a legal document used in Hennepin County, Minnesota to release a mechanic's lien held by a business entity. This form is specifically designed for business entities, such as corporations or limited liability companies (LCS), who have placed a lien on a property for unpaid construction or improvement work. The purpose of this form is to formally acknowledge that the business entity has been paid in full for the services rendered or materials supplied, and therefore, the lien on the property should be released. By filing this form with the Hennepin County Registrar of Titles, the business entity is declaring that there is no longer any legitimate claim on the property due to the full satisfaction of the lien. Key details that need to be included in the Hennepin Minnesota Satisfaction of Mechanic's Lien By Business Entity CBCBC Form 40.3.2 are: 1. Business Entity Information: The form requires the business entity's name, address, and contact information. 2. Property Information: The address and legal description of the property subject to the lien must be provided. This ensures the correct property is identified and the lien is released from the appropriate location. 3. Lien Information: The form requires details regarding the original lien, such as the date of filing, the book and page where the original lien statement is recorded, and the amount claimed in the lien. 4. Satisfaction Information: The business entity must provide the date of satisfaction, amount of payment received, and any additional information supporting the full release of the lien. This may include copies of invoices, receipts, or other relevant documents. 5. Signature and Notarization: The form must be signed by an authorized representative of the business entity and notarized to validate its authenticity. It is important to note that only one version of the Hennepin Minnesota Satisfaction of Mechanic's Lien By Business Entity CBCBC Form 40.3.2 is commonly used. There may be other related forms for specific situations or modifications, such as amendments to the original lien, but the core form remains the same.Hennepin Minnesota Satisfaction of Mechanic's Lien By Business Entity CBCBC Form 40.3.2 is a legal document used in Hennepin County, Minnesota to release a mechanic's lien held by a business entity. This form is specifically designed for business entities, such as corporations or limited liability companies (LCS), who have placed a lien on a property for unpaid construction or improvement work. The purpose of this form is to formally acknowledge that the business entity has been paid in full for the services rendered or materials supplied, and therefore, the lien on the property should be released. By filing this form with the Hennepin County Registrar of Titles, the business entity is declaring that there is no longer any legitimate claim on the property due to the full satisfaction of the lien. Key details that need to be included in the Hennepin Minnesota Satisfaction of Mechanic's Lien By Business Entity CBCBC Form 40.3.2 are: 1. Business Entity Information: The form requires the business entity's name, address, and contact information. 2. Property Information: The address and legal description of the property subject to the lien must be provided. This ensures the correct property is identified and the lien is released from the appropriate location. 3. Lien Information: The form requires details regarding the original lien, such as the date of filing, the book and page where the original lien statement is recorded, and the amount claimed in the lien. 4. Satisfaction Information: The business entity must provide the date of satisfaction, amount of payment received, and any additional information supporting the full release of the lien. This may include copies of invoices, receipts, or other relevant documents. 5. Signature and Notarization: The form must be signed by an authorized representative of the business entity and notarized to validate its authenticity. It is important to note that only one version of the Hennepin Minnesota Satisfaction of Mechanic's Lien By Business Entity CBCBC Form 40.3.2 is commonly used. There may be other related forms for specific situations or modifications, such as amendments to the original lien, but the core form remains the same.
