Will I lose rights for extra payment in case I sign an interim lien waiver & release with a specific through date for a lower amount of money than the invoices from subcontractors?
No. You do have the right to "reverse" a lien waiver where payment is not made (or where a check bounces). But your time to do so is limited, so you must act promptly. However, there is a difference between waiving a lien right and releasing a claim for a debt. Whenever you are accepting payment for a lesser amount than is owed, you need to be careful that you don't sign something that waives or releases the remaining balance of the debt. Under the law you can release a claim without receiving payment if you sign a release or where you otherwise act as if the debt is satisfied. Don't sign anything without first carefully reading it to make sure you are only releasing your lien rights to the amount actually received.
Mr. Jon
Thanks for your answer and time. I have received the money already; however, I overlooked the invoices from the subcontractor and requested less funds. I signed the "Interim Waiver & Release Upon Payment form"
I dont want to fight for it in case there is no point or no chance.
It depends on what you signed and whether the debtor is worth chasing.
I just find out that I signed by mistake the old lien waiver form (interim waiver) for a project in 2022. basically, I have 4 waivers done in the old form. I submitted a lien claim on the property due to lack of final payment & breach of contract.
Could I loose the case by using the old form? or is the waiver useless due to the old form used?
Thanks