What is a Waiver Of Lien Individual and why is it important?

A Waiver Of Lien Individual is a legal document that protects individuals from claims against their property or assets by contractors or suppliers. It is essential because it ensures that once payment is made, the individual is safeguarded from future lien claims, providing peace of mind during transactions.

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Waiver of Lien Individual 490218646 Form

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Waiver of lien individual 490218646 form

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Waiver of Lien Page 1 of 1 Waiver of Lien – Individual (S.D. Codified Laws Ann. §44-9A-2, 44-9A-4) COMES NOW, __________________________________, as an individual lienor who has furnished materials, supplies, equipment, and services to __________________________________, an owner, contractor or subcontractor for the improvement of property located at and described as ___________________________________________________________, and hereby waives any lien to which the undersigned would otherwise be entitled to under Title 5 or Title 44 of the South Dakota Codified Laws or by virtue of the common law of South Dakota by the endorsement of a joint check where the payees include the contractor or subcontractor and the undersigned and by the execution of this separate agreement of waiver between the maker of the joint check and the undersigned. The endorsement of a joint check as provided herein and the execution of this separate written agreement of waiver by the undersigned shall constitute an express waiver of all rights and claims under Title 5 and Title 44 of the South Dakota Codified Laws and the common law of South Dakota against the owner or contractor and his or her surety to the extent of, and as of the date of, the joint check endorsed. ______________________________ Signature of Lien Holder ______________________________ Type or Print Name

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