The Final Waiver of Lien Form is a critical document in construction project closeouts across the United States. It is typically executed when a contractor or subcontractor has received final payment for their work. The form protects property owners from future lien claims while providing evidence of payment to contractors. State laws govern the specific requirements and format of these waivers, with some states mandating statutory forms. The Final Waiver of Lien Form should be obtained before final payment is made and is often required by title companies, lenders, and property owners as part of their due diligence process.
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1. Project Information: Details of the construction project, including address and description
2. Identification of Parties: Information about the contractor/subcontractor and property owner
3. Payment Amount: Statement of consideration received or to be received
4. Waiver Statement: Express waiver of lien rights and release of claims
5. Execution Block: Signature lines and notary section
1. Conditional Language: Contains provisions that make the waiver effective only upon receipt of payment - used when payment is pending
2. Warranty of Title: Additional warranties regarding clear title and absence of other claims or encumbrances
3. Indemnification: Provisions protecting against future claims and liabilities related to the waived liens
1. Payment Schedule: Detailed breakdown of payments received to date and final payment amount
2. Project Scope: Detailed description of work performed or materials furnished under the contract
3. Supporting Documents: List of attached documentation including invoices, receipts, or other payment verification
Relevant legal definitions
Clauses
Identification of Parties
Project Description
Payment Acknowledgment
Waiver and Release
Representation and Warranty
Conditional Payment
Scope of Work
Indemnification
Previous Payments
Authority to Execute
Governing Law
Notarization
Sworn Statement
Title Clearance
Consideration
Exceptions and Reservations
Reliance
Certification
Severability
Prior Rights Waiver
Project Description
Payment Acknowledgment
Waiver and Release
Representation and Warranty
Conditional Payment
Scope of Work
Indemnification
Previous Payments
Authority to Execute
Governing Law
Notarization
Sworn Statement
Title Clearance
Consideration
Exceptions and Reservations
Reliance
Certification
Severability
Prior Rights Waiver
Relevant Industries
Relevant Teams
Relevant Roles
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