Partial Release Of Lien Form Template for Philippines

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Key Requirements PROMPT example:

Partial Release Of Lien Form

"I need a Partial Release of Lien Form for a construction project in Manila where we've completed Phase 1 of a 3-phase development, with the contractor agreeing to release their lien on the completed portion valued at 5 million pesos while maintaining the lien on the remaining phases."

Document background

The Partial Release Of Lien Form is a crucial document in Philippine property and construction law, typically used when a portion of a lien needs to be released while maintaining the remaining security interest. This situation commonly arises in phased construction projects, partial property sales, or when partial payments have been made against a larger lien amount. The document must comply with the Civil Code of the Philippines and the Property Registration Decree (PD 1529), containing specific information about the original lien, the portion being released, and the remaining encumbrance. It requires proper execution, including notarization, to be legally valid in the Philippines. This form serves as official documentation for partial satisfaction of debt or completion of work, allowing the released portion of the property to be free from the original lien while maintaining security over the remaining portion.

Suggested Sections

1. Property Identification: Detailed legal description of the property subject to the lien, including its location, boundaries, and title/tax declaration numbers

2. Original Lien Information: Details of the original lien including date recorded, amount, and recording information

3. Lienor Information: Complete identification of the party who holds the lien, including legal name and address

4. Property Owner Information: Complete identification of the property owner(s), including legal name and address

5. Release Statement: Clear statement of the partial release, specifying exactly what portion of the lien is being released

6. Consideration: Statement of the payment or consideration received for the partial release

7. Remaining Lien: Clear statement of the remaining lien amount and terms that continue in effect

8. Execution: Signature blocks, notarization section, and date of execution

Optional Sections

1. Construction Project Details: Include when the lien relates to a specific construction project, detailing the scope of work and project information

2. Contractor Information: Include when the lien involves a contractor, providing license numbers and project role

3. Conditional Release Language: Include when the release is conditional upon specific payment or other conditions

4. Waiver of Rights: Include when additional rights are being waived along with the partial release

5. Authority to Execute: Include when the person signing is doing so in a representative capacity

Suggested Schedules

1. Schedule A - Property Description: Detailed technical description of the property, including metes and bounds or condominium details if applicable

2. Schedule B - Payment Details: Breakdown of payments made and remaining balance

3. Schedule C - Released Portions: Detailed description or drawing of the specific portions of work or property being released from the lien

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Property Description
Party Identification
Original Lien Reference
Release Declaration
Consideration
Remaining Lien
Representations and Warranties
Execution and Attestation
Notarial Acknowledgment
Recording Information
Governing Law
Authority to Execute
Severability
Entire Agreement
Conditions Precedent
Notice

Relevant Industries

Construction

Real Estate

Property Development

Banking and Finance

Legal Services

Architecture and Engineering

Infrastructure Development

Commercial Property

Residential Property

Industrial Development

Relevant Teams

Legal

Real Estate

Construction

Project Management

Finance

Operations

Compliance

Property Management

Contract Administration

Development

Relevant Roles

Property Manager

Construction Manager

Project Manager

Legal Counsel

Real Estate Attorney

Contract Administrator

Development Director

Finance Manager

Construction Supervisor

Real Estate Manager

Compliance Officer

Title Officer

Operations Manager

Project Coordinator

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Let's create your Partial Release Of Lien Form

Authors

Alex Denne

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