The Vendor Lien Release Form is a crucial document in Canadian commercial transactions where a vendor has maintained a security interest in goods or property pending full payment or satisfaction of other conditions. This document is commonly used in situations where a vendor has sold goods on credit or retained a security interest until full payment is received. The form, which must comply with provincial personal property security legislation, serves to formally discharge the vendor's lien rights and clear title to the property. It is particularly important in commercial transactions where clean title is required for further sale, financing, or business operations. The Vendor Lien Release Form includes specific details about the original lien, the property involved, and contains explicit release language that ensures the vendor can no longer claim any rights to the property. This document is essential for maintaining clear property records and facilitating smooth commercial transactions across various Canadian jurisdictions.

1. Title and Date: Clear identification of the document as a Vendor Lien Release Form and date of execution

2. Identification of Parties: Full legal names and addresses of the Vendor (Lien Holder) and the Debtor/Property Owner

3. Lien Details: Specific details of the original lien including registration number, date, and amount

4. Property Description: Clear description of the property or goods to which the lien applies

5. Consideration Statement: Acknowledgment of payment or other consideration received for the release

6. Release Language: Clear and unambiguous statement releasing all claims and interests in the property

7. Governing Law: Statement specifying applicable provincial/territorial law

8. Execution Block: Signature blocks for all parties with witness requirements