Lien Waiver

A document from a contractor, subcontractor, supplier or other party holding a mechanic's lien stating that they have been paid in full and waiving future lien rights to the disputed property. Generally, there are four types of lien waivers:

  1. An "Unconditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, with no stipulations;

  2. A "Conditional Waiver and Release Upon Progress Payment" discharges all claimant rights through a specific date, provided the payments have actually been received and processed.

  3. An "Unconditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of payment

  4. A "Conditional Waiver and Release Upon Final Payment" extinguishes all claimant rights upon receipt of payment, with certain provisions.

In the United States, many states typically only recognize conditional waivers on progress payments and unconditional waivers upon final payments. Just as a mechanic's lien can be a great aid to those seeking payment for services rendered, a lien waiver can be a lifesaver for owners that have made full or partial payments.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Lien waiver — In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materialmen, equipment lessor or other party to the construction project stating they have received payment and waive any future lien rights to the… …   Wikipedia

  • waiver — The intentional or voluntary relinquishment of a known right, or such conduct as warrants an inference of the relinquishment of such right, or when one dispenses with the performance of something he is entitled to exact or when one in possession… …   Black's law dictionary

  • lien — /liy(a)n/ A claim, encumbrance, or charge on property for payment of some debt, obligation or duty. Sullins v. Sullins, 65 Wash.2d 283, 396 P.2d 886, 888. Qualified right of property which a creditor has in or over specific property of his debtor …   Black's law dictionary

  • lien — / lēn/ n [Anglo French, bond, obligation, literally, tie, band, from Old French, from Latin ligamen, from ligare to bind]: a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the… …   Law dictionary

  • mechanic's lien — A claim created by state statutes for the purpose of securing priority of payment of the price or value of work performed and materials furnished in erecting, improving, or repairing a building or other structure, and as such attaches to the land …   Black's law dictionary

  • mechanics' lien — A claim created by state statutes for the purpose of securing priority of payment of the price or value of work performed and materials furnished in erecting, improving, or repairing a building or other structure, and as such attaches to the land …   Black's law dictionary

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  • MEḤILAH — (Heb. מְחִילָה; waiver ), the renunciation, repudiation, abandonment, or surrender of some claim, right, or privilege. Meḥilah may be the waiver of a present right or lien or the waiver of the right to a future increment; in the latter case, it… …   Encyclopedia of Judaism

  • TAXATION — This article is arranged according to the following outline: historical aspects legal aspects the biblical period the talmudic period the post talmudic period in general yardsticks of tax assessment taxable property Place of Residence, Business,… …   Encyclopedia of Judaism

  • PLEDGE — The Concept In Jewish law, in addition to the personal right of action against the debtor, the creditor also has a right of lien on   the latter s property. This lien automatically comes into being when the debt is created and is termed aḥarayut… …   Encyclopedia of Judaism

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