This Conditional Waiver and Release of Claim of Lien Upon Final Payment 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 particular 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 described work, and if these funds are not received within a certain number of days of the date of this waiver, this Conditional Waiver and Release of Lien is void.
The Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment is a legal document commonly used in construction projects to release a claim of lien on a property upon final payment. This waiver ensures that contractors, subcontractors, and suppliers who have provided labor, materials, or services receive their payment in full and acknowledge that they have no further claims against the property. This conditional waiver serves as a protection mechanism for property owners and construction lenders, ensuring that no claims of lien can be filed or enforced after final payment has been made. It provides clarity and certainty in the financial aspects of a construction project, allowing for smoother transactions and the prevention of potential legal disputes. There are different types of Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment, including: 1. Conditional Waiver and Release Upon Final Payment: This type of waiver is typically used when a final payment is made to the contractor or subcontractor. It acknowledges that payment has been received, and in return, the claimant releases their lien rights upon the property. 2. Unconditional Waiver and Release Upon Final Payment: This type of waiver is similar to the conditional waiver but does not include any conditions. Once the final payment is made, the claimant fully and unconditionally releases their claim of lien on the property. 3. Partial Conditional Waiver and Release Upon Final Payment: In some cases, a construction project may involve multiple installments or progress payments. This waiver is used when an interim or partial payment is made, and it releases a portion of the lien claim upon receipt of the specified payment. It's important to note that while the Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment can provide peace of mind for both parties involved in a construction project, it is essential to consult with a legal professional to ensure accuracy and compliance with local laws and regulations.The Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment is a legal document commonly used in construction projects to release a claim of lien on a property upon final payment. This waiver ensures that contractors, subcontractors, and suppliers who have provided labor, materials, or services receive their payment in full and acknowledge that they have no further claims against the property. This conditional waiver serves as a protection mechanism for property owners and construction lenders, ensuring that no claims of lien can be filed or enforced after final payment has been made. It provides clarity and certainty in the financial aspects of a construction project, allowing for smoother transactions and the prevention of potential legal disputes. There are different types of Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment, including: 1. Conditional Waiver and Release Upon Final Payment: This type of waiver is typically used when a final payment is made to the contractor or subcontractor. It acknowledges that payment has been received, and in return, the claimant releases their lien rights upon the property. 2. Unconditional Waiver and Release Upon Final Payment: This type of waiver is similar to the conditional waiver but does not include any conditions. Once the final payment is made, the claimant fully and unconditionally releases their claim of lien on the property. 3. Partial Conditional Waiver and Release Upon Final Payment: In some cases, a construction project may involve multiple installments or progress payments. This waiver is used when an interim or partial payment is made, and it releases a portion of the lien claim upon receipt of the specified payment. It's important to note that while the Portland Oregon Conditional Waiver and Release of Claim of Lien Upon Final Payment can provide peace of mind for both parties involved in a construction project, it is essential to consult with a legal professional to ensure accuracy and compliance with local laws and regulations.
