I am a real estate investor. I have an investment property that my GC is doing the work on. I am confused by the language in the waiver. Who is the customer in the lien waivers? I am the owner correct? So where it states:
Name of Claimant (GC)
Name of Customer (?)
Owner - myself
Can I kindly get some clarification. Thanks. ...Read More
How do we know if a lien waiver is conditional or unconditional? I have a waiver that says the following that a customer insists we sign BEFORE paying us here in Indiana. I think their corporate office is In Michigan. They are talking about us doing work for them in several other states.
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THE UNDERSIGNED DOES HEREBY WAIVE AND RELEASE ALL BOND CLAIMS, LIENS, OR CLAIMS OR RIGHT OF LIEN, STATUTORY OR OTHERWISE AGAINST THE PROPERTY PROJECT OWNER AND ANY SURETIES, FOR LABOR , SERVICES, MATERIAL OR EQUIPMENT, AS PROVIDED BY THE UNDERSIGNED, BUT ONLY TO THE EXTENT OF PAYMENT RECEIVED, AS INDICATED AND AS LIMITED BELOW.
The undersigned acknowledges receipt of payment in the amount of [$XXXX.XX] for labor, services, materials or equipment as described herein, and does hereby grant this release
unconditionally.
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Sincerely,
Chris...Read More
I have a final unconditional lien waiver from my vendor but my subcontractor on the same project has defaulted payment am I (the GC) or the property covered from a lien from this unpaid vendor? Is there additional precautions I can take so this doesn't escalate? The vendor is after us to go after them for payment or they threaten to go to the property owner and Marriott. Can they do that?...Read More