Which type of lien waiver is best for property owners?

Once an unconditional lien waiver is signed, it is fully effective and enforceable. While using an unconditional lien waiver will certainly protect your property, it won't guarantee that the signor actually receives payment, since unconditional waivers are typically enforceable even if signor never gets paid.

US Legal Forms
Localized Forms
New York
Nassau
New York Conditional Waiver and Release of Lien Upon Final Payment

Nassau Lien

Name: Nassau New York Conditional Waiver and Release of Lien Upon Final Payment
Brand: US Legal Forms
Rating: 4.68 (406 reviews)

Category:

Liens - Construction - Mechanics

State:

New York

County:

Nassau

Control #:

NY-14-09

Format:

Instant download

Description

This Conditional Waiver and Release of Lien Upon Final Payment form is for use by a lienor, in consideration of final payment to waive and release his or her lien and right to claim a lien for labor, services or materials furnished through a certain date to a customer on the job of an owner of property. This Conditional Waiver and Release of Lien Upon Final Payment is conditioned upon the lienor receiving collected funds for the work described, and if such funds are not received within a specific number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.

The Nassau New York Conditional Waiver and Release of Lien Upon Final Payment is a legal document used in construction projects to protect contractors and subcontractors when they have received full payment for their work. This waiver acts as a guarantee that the contractor has no intention of pursuing a lien against the property in the future. There are various types of Nassau New York Conditional Waiver and Release of Lien Upon Final Payment, tailored to different situations that may arise in a construction project. These include: 1. Conditional Waiver and Release of Lien Upon Final Payment for Contractors: This type of waiver is specifically designed for contractors who have completed their work on a construction project and have received full payment from the property owner or the general contractor. By signing this waiver, the contractor confirms that they have no further claim on the property and agree not to file a lien. 2. Conditional Waiver and Release of Lien Upon Final Payment for Subcontractors: Subcontractors who have completed their portion of work on a project and have been paid in full by either the general contractor or the property owner can utilize this waiver. This document acknowledges that the subcontractor has no lingering lien rights and will not take further legal action against the property. 3. Conditional Waiver and Release of Lien Upon Final Payment for Suppliers: This particular waiver is utilized by suppliers who have delivered the necessary materials for a construction project and have been compensated in full by either the general contractor or the property owner. By signing this waiver, suppliers relinquish any potential lien rights they may have had and agree not to pursue further legal actions. 4. Conditional Waiver and Release of Lien Upon Final Payment for Design Professionals: Design professionals such as architects or engineers who have completed their services in a construction project can employ this waiver. It certifies that they have received full payment and have no intention of filing a lien against the property. The Nassau New York Conditional Waiver and Release of Lien Upon Final Payment safeguards the rights of contractors, subcontractors, suppliers, and design professionals, ensuring they are adequately compensated for their work without the need for legal disputes or liens. By using these waivers, parties involved in a construction project can establish clear boundaries and protect their interests, promoting a smoother and more collaborative working relationship.

New Orleans Advertising Services Agreement between Advertiser and Adertising Agency for National Advertising

View this form

Newark Advertising Services Agreement between Advertiser and Adertising Agency for National Advertising

View this form

Nashville Advertising Services Agreement between Advertiser and Adertising Agency for National Advertising

View this form

Minneapolis Advertising Services Agreement between Advertiser and Adertising Agency for National Advertising

View this form

Mesa Advertising Services Agreement between Advertiser and Adertising Agency for National Advertising

View this form

Summary of Electronic Filing

View this form

Assumption Agreement of Deed of Trust and ...

View this form

Sample Letter for Request for Information ...

View this form

Substitution of Attorney for Workers' Comp...

View this form

Notice of Violation of Fair Debt Act - Imp...

View this form

Acknowledgment for Individuals

View this form

Agreement for the Partition and Division o...

View this form

Motion to Preclude the Sheriff's Departmen...

View this form

Vendor Oriented Software Development and L...

View this form

Affidavit in Support of Motion for Order t...

View this form

How to fill out Nassau New York Conditional Waiver And Release Of Lien Upon Final Payment?

If you’ve already utilized our service before, log in to your account and save the Nassau New York Conditional Waiver and Release of Lien Upon Final Payment on your device by clicking the Download button. Make certain your subscription is valid. Otherwise, renew it according to your payment plan.

If this is your first experience with our service, follow these simple actions to obtain your file:

Make sure you’ve located a suitable document. Look through the description and use the Preview option, if any, to check if it meets your needs. If it doesn’t suit you, utilize the Search tab above to find the proper one.
Purchase the template. Click the Buy Now button and pick a monthly or annual subscription plan.
Register an account and make a payment. Utilize your credit card details or the PayPal option to complete the transaction.
Obtain your Nassau New York Conditional Waiver and Release of Lien Upon Final Payment. Opt for the file format for your document and save it to your device.
Complete your sample. Print it out or take advantage of professional online editors to fill it out and sign it electronically.

You have permanent access to each piece of paperwork you have bought: you can locate it in your profile within the My Forms menu anytime you need to reuse it again. Take advantage of the US Legal Forms service to easily find and save any template for your individual or professional needs!

Form popularity

FAQ

Notarization Not Required Illinois lien waivers are not required to be notarized in order to be effective.

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.

How to Fill Out an Unconditional Lien Waiver and Release on Progress Payment Form Name of Claimant. This term refers to the party that receives the payment who will also, eventually, sign the lien waiver document.Name of Customer.Job Location.Owner.Through Date.Amount.Exceptions.Claimant's Signature.

Waiver of Lien Most of the standard form building contracts make provision for the Employer to provide a payment guarantee to the Contractor in return for which the Contractor waives his lien over any work done in terms of that contract.

Once an unconditional lien waiver is signed, it is fully effective and enforceable. While using an unconditional lien waiver will certainly protect your property, it won't guarantee that the signor actually receives payment, since unconditional waivers are typically enforceable even if signor never gets paid.

New York Lien Law § 20 provides that an owner may discharge a mechanic's lien by the payment of money into court. Before a lien foreclosure action is commenced, the discharge is effectuated by depositing with the county clerk a payment equal to the amount claimed in the lien, with interest to the time of the deposit.

Notarization Not Required New York does not require lien waivers to be notarized.

Lien Release: After a lien has been filed, the California claimant can release or cancel the lien by filing a Mechanics Lien Release form with the county recorder's office where the lien was originally recorded.

Unconditional Waiver and Release Upon Final Payment Use this form when the claimant is required to sign a waiver and release in exchange for, or in order to, induce a final payment and the claimant asserts in the waiver that he or she has received the final payment.

Interesting Questions

More info

No Lien Affidavit attesting to the payment of employees. Hundred ten of the New York Tax Law.

Trusted and secure by over 3 million people of the world’s leading companies

Conditional Waiver and Release of Lien Upon Final Payment

Note: This summary is not intended to be an all inclusive discussion of New York's construction or mechanic's lien laws, but does include basic provisions.

What is a construction or mechanic's lien?

Every State permits a person who supplies labor or materials for a construction project to claim a lien against the improved property. While some states differ in their definition of improvements and some states limit lien claims to buildings or structures, most permit the filing of a document with the local court that puts parties interested in the property on notice that the party asserting the lien has a claim. States differ widely in the method and time within which a party may act on their lien. Also varying widely are the requirements of written notices between property owners, contractors, subcontractors and laborers, and in some cases lending institutions. As a general rule, these statutes serve to prevent unpleasant surprises by compelling parties who wish to assert their legal rights to put all parties who might be interested in the property on notice of a claim or the possibility of a claim. This by no means constitutes a complete discussion of construction lien law and should not be interpreted as such. Parties seeking to know more about construction laws in their State should always consult their State statutes directly.

Who can file a lien in this State?

New York law permits "A contractor, subcontractor, laborer, materialman, landscape gardener, nurseryman or person or corporation selling fruit or ornamental trees, roses, shrubbery, vines and small fruits, who performs labor or furnishes materials for the improvement of real property with the consent or at the request of the owner thereof, or of his agent, contractor or subcontractor, and any trust fund to which benefits and wage supplements are due or payable for the benefit of such laborers, to have a lien for the principal and interest, of the value, or the agreed price, of such labor, including benefits and wage supplements due or payable for the benefit of any laborer, or materials upon the real property improved or to be improved and upon such improvement, from the time of filing a notice of such lien..." N.Y. Lien Law Â§3.

How long does a party have to file a lien?

A notice of lien may be filed at anytime during the progress of the work and the furnishing of the materials, or, within eight months after the completion of the contract, or the final performance of the work, or the final furnishing of the materials, dating from the last item of work performed or materials furnished; provided, however, that where the improvement is related to real property improved or to be improved with a single family dwelling, the notice of lien may be filed at any time during the progress of the work and the furnishing of the materials, or, within four months after the completion of the contract, or the final performance of the work, or the final furnishing of the materials, dating from the last item of work performed or materials furnished. N.Y. Lien Law Â§10.

What kind of notice is required prior to filing a lien?

"Within five days before or thirty days after filing the notice of lien, the lienor shall serve a copy of such notice upon the owner, if a natural person, (a) by delivering the same to him personally, or if the owner cannot be found, to his agent or attorney, or (b) by leaving it at his last known place of residence in the city or town in which the real property or some part thereof is situated, with a person of suitable age and discretion, or (c) by registered or certified mail addressed to his last known place of residence, or (d) if such owner has no such residence in such city or town, or cannot be found, and he has no agent or attorney, by affixing a copy thereof conspicuously on such property, between the hours of nine o'clock in the forenoon and four o'clock in the afternoon; if the owner be a corporation, said service shall be made (i) by delivering such copy to and leaving the same with the president, vice-president, secretary or clerk to the corporation, the cashier, treasurer or a director or managing agent thereof, personally, within the state, or (ii) if such officer cannot be found within the state by affixing a copy thereof conspicuously on such property between the hours of nine o'clock in the forenoon and four o'clock in the afternoon, or (iii) by registered or certified mail addressed to its last known place of business. Failure to file proof of such a service with the county clerk within thirty-five days after the notice of lien is filed shall terminate the notice as a lien." N.Y. Lien Law Â§10.

How long is a lien good for?

"Any lien created under New York law shall be a lien for a period longer than one year after the notice of lien has been filed, unless within that time an action is commenced to foreclose the lien, ..." or the appropriate steps are taken to request that the court grant an extension. N.Y. Lien Law Â§17.

Are liens assignable?

Yes. New York statutes provide for the assignment of valid liens. The assignment must be in writing and acknowledged by the lien holder. N.Y. Lien Law Â§13.

Does this State require or provide for a notice from subcontractors and laborers to property owners?

Yes. A contractor working on a public improvement may issue a written demand that a state agency provide a notice of completion and acceptance. Also, a subcontractor or other party who furnishes labor and or materials for the improvement of property may issue a demand to the owner or contractor demanding that the owner or contractor provide a statement of the terms of the contract between the owner and the contractor.

Does this State require or provide for a notice from the property owner to the contractor, subcontractor, or laborers?

Yes. Under New York law a property owner whose property has been the subject of a notice of lien may demand in writing that the lien claimant provide an itemized statement of the labor and/or materials provided and their value.

Does this State require a notice prior to starting work, or after work has been completed?

No. New York statutes do not require a Notice of Commencement or a Notice of Completion as required in some other States.

Does this State permit a person with an interest in property to deny responsibility for improvements?

No. New York statutes do not have a provision which permits the denial of responsibility for improvements.

Is a notice attesting to the satisfaction of a lien provided for or required?

No. New York statutes do not provide for or require that a lien holder who has been paid produce or file a notice to that effect.

By what method does the law of this State permit the release of a lien?

A lien claimed under New York law may be discharged by the issuing of a certificate by the lien holder, filed in the court where the lien notice was filed, acknowledging the satisfaction and release of said lien. Otherwise, the lien will dissolve automatically within one year of filing if no legal action is taken to foreclose on said lien.

Does this State permit the use of a bond to release a lien?

Yes. New York law permits a party with an interest in the property in question to file a bond in the amount unpaid under the contract.