Wake North Carolina Release of Lien

• Category: Liens - Releases and Waivers
• State: Multi-State
• County: Wake
• Control #: US-01775-AZ
• Format: Word; Rich Text

Description

This form is a release of a lien. The form provides that the lienholder chooses to release a certain parcel of property and the owner from all liability arising from the labor performed and materials furnished by the lienholder under the terms of a contract mentioned in the document. A Wake North Carolina Release of Lien is a legal document used to officially release a lien placed on a property in Wake County, North Carolina. This document plays a crucial role in transferring clear ownership of the property from the lien holder to the property owner. The purpose of a Release of Lien is to satisfy and discharge any outstanding debts or obligations secured by the lien. By releasing the lien, the lien holder acknowledges that the debt or obligation has been fully settled, allowing the property owner to freely initiate any future transactions involving the property. There are different types of Wake North Carolina Releases of Lien, depending on the specific circumstances. Here are a few common types: 1. Construction Lien Release: This type of release is used in the construction industry when a contractor, subcontractor, or supplier places a lien on a property to ensure payment for services, labor, or materials provided during construction or renovation. Once the debt is fully paid, the construction lien is released, allowing the property owner to proceed with any further construction or sale of the property. 2. Mechanic's Lien Release: This release is similar to a construction lien release but specifically applies to contractors or suppliers involved in repairs, improvements, or maintenance work on a property. It serves to protect their right to payment and ensures that the property owner is not encumbered by any outstanding debts related to the services rendered. Once the debt is settled, the mechanic's lien is released. 3. Property Tax Lien Release: This type of release pertains to a lien placed on a property by the government or tax authorities when the property owner fails to pay outstanding property taxes. The release of this lien indicates that the delinquent taxes have been paid, and the property owner is no longer subject to any legal consequences or forced property sales due to tax liabilities. In summary, a Wake North Carolina Release of Lien is a critical document that protects both the property owner and the lien holder. Whether it is a construction, mechanic's, or property tax lien release, it serves as proof of debt satisfaction and allows for the smooth transfer of ownership without any encumbrances related to past obligations.

A Wake North Carolina Release of Lien is a legal document used to officially release a lien placed on a property in Wake County, North Carolina. This document plays a crucial role in transferring clear ownership of the property from the lien holder to the property owner. The purpose of a Release of Lien is to satisfy and discharge any outstanding debts or obligations secured by the lien. By releasing the lien, the lien holder acknowledges that the debt or obligation has been fully settled, allowing the property owner to freely initiate any future transactions involving the property. There are different types of Wake North Carolina Releases of Lien, depending on the specific circumstances. Here are a few common types: 1. Construction Lien Release: This type of release is used in the construction industry when a contractor, subcontractor, or supplier places a lien on a property to ensure payment for services, labor, or materials provided during construction or renovation. Once the debt is fully paid, the construction lien is released, allowing the property owner to proceed with any further construction or sale of the property. 2. Mechanic's Lien Release: This release is similar to a construction lien release but specifically applies to contractors or suppliers involved in repairs, improvements, or maintenance work on a property. It serves to protect their right to payment and ensures that the property owner is not encumbered by any outstanding debts related to the services rendered. Once the debt is settled, the mechanic's lien is released. 3. Property Tax Lien Release: This type of release pertains to a lien placed on a property by the government or tax authorities when the property owner fails to pay outstanding property taxes. The release of this lien indicates that the delinquent taxes have been paid, and the property owner is no longer subject to any legal consequences or forced property sales due to tax liabilities. In summary, a Wake North Carolina Release of Lien is a critical document that protects both the property owner and the lien holder. Whether it is a construction, mechanic's, or property tax lien release, it serves as proof of debt satisfaction and allows for the smooth transfer of ownership without any encumbrances related to past obligations.