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Video Guide on Construction Lien Release management

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Commonly Asked Questions about Construction Lien Release

A lien release is a document that is filed in the public land records as the official notice that the lien is removed. Once payment has been received, a contractor has a duty to remove any lien that was filed against the property.
A lien release, is a legal document that releases a lien filed against a property, vehicle, or another asset. The filing of liens is a form of collateral for debts owed to another party. The person who filed the lien may seize and sell the debtors asset if the debt remains unpaid.
New York prohibits the waiving of lien rights prior to performance. Furthermore, waivers cannot be made in advance of payment, but only with, or after, payment. New York has no requirement that a lien waiver must be docHubd.
The New York Mechanics Lien Release Form is used to cancel or release a New York mechanics lien that has already been filed. Its most often used to release a lien claim after a lien claimant receives payment. However, they may also be released based on settlements, legal controversies, because they expired, or more.
Specify the property or asset that was subject to the lien. Include details such as the address, make and model (if applicable), and any other relevant identifying information. Clearly state the reason for the lien release. This could be due to payment in full, a change in ownership, or any other applicable reason.
Waiver of lien. Notwithstanding the provisions of any other law, any contract, agreement or understanding whereby the right to file or enforce any lien created under article two is waived, shall be void as against public policy and wholly unenforceable.
When you borrow money to purchase a car, the lender files a lien on the vehicle with the state to insure that if the loan defaults, the lender can take the car. When the debt is fully repaid, a release of the lien is provided by the lender.
Add or Remove a Lien on a Vehicle To add or remove a lien on your vehicle title, visit your local county tax office. The title fee is $28 or $33, depending on your county, and must be paid at time of application. Please contact your local county tax office for the exact cost.