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The document is a 'Final Waiver of Lien' and 'Contractor's Affidavit' used in Illinois, which serves to release any claims or liens against a property by a contractor after receiving payment for work done. It includes details about the contractor, the work performed, payment received, and confirms that all waivers are genuine and complete. The document ensures that no further claims for labor or materials will be made regarding the specified project.

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What is a final waiver of lien in Illinois?

Final waivers come into play once the final payment on a project is anticipated or made. By signing a final waiver, a contractor, subcontractor, or supplier relinquishes any right to file a mechanics lien against the property for work performed under the contract.

What is a final waiver of lien?

Contractors sign a final lien waiver when theyve received payment for services for an entire outstanding balance on a construction project or when an owner pays the entire amount owed for work done on the project. For owners, its an acknowledgment they have cleared their obligations to the general contractor.

Do lien waivers need to be notarized in Illinois?

Both conditional and unconditional lien waivers are allowed, but conditional is viewed as the safer option. Illinois disallows any waiver of a right to claim a lien prior to performing work for a project. Illinois has no requirement that a lien waiver must be notarized.

Does a waiver need to be notarized?

The requirement for notarization of a liability waiver depends on the specific laws of the jurisdiction and the preferences of the parties involved. In many cases, a notary public is not a mandatory component for a waiver to be legally binding. However, notarizing a waiver can add an extra layer of credibility.

Do lien releases have to be notarized?

Legally, the only states that mandate the notarization of lien waivers are Mississippi and Wyoming. Texas previously required notarization, but that hasnt been the case since 2022.

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Can lien waivers be signed electronically?

The construction industry can rest easy knowing that the lien waivers signed electronically are just as valid as those with wet signatures.

What do you need for a lien waiver in Illinois?

Illinois does not provide or require statutory forms for lien waivers. For an Illinois lien waiver to be valid, it must be completed by an express agreement that clearly states the intent to waive lien rights. Both conditional and unconditional lien waivers are allowed, but conditional is viewed as the safer option.

How to remove a lien in Illinois?

To Remove Lienholder: Submit lien clearance letter from the lienholder indicating that the lien has been paid in full; or. Submit lien contract stating that the lien has been paid in full; Submit a court order directing our office to issue the duplicate title without the lien or lienholders name.

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What is a final waiver of lien in Illinois?

What is a final waiver of lien?

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