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Unconditional Waiver and Release of Claim of Lien Upon Final Payment North Dakota Form

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Unconditional Waiver and Release of Claim of Lien Upon Final Payment North Dakota Form

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[Music] lien waiver is a document that an owner gets from a general contractor or a subcontractor which releases that contractor's claim for lien against the owners property for the amount of that waiver a lien waiver is important in construction because the mechanic's lien Act gives powerful rights to a contractor or subcontractor to lien and owner's property and ultimately foreclose on that lien the lien waiver assures the owner that when the owner makes a payment to the contractor or the subcontractor that that lien right is released to the extent of the payment if an owner doesn't get a lien waiver the owner could be forced to pay twice or the owners property could be leaned by the subcontractor or general contractor and that contractor could ultimately foreclose forcing the sale of the property to pay the contractor [Music] [Music]

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