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Content Overview

Guide to Writing Chicago Title Waiver Format

Filling out the Chicago Title Waiver Format form is an important step in ensuring that all parties involved are clear about their rights and obligations. Once you have completed this form, it will be submitted to the appropriate parties for processing. Follow these steps carefully to ensure accuracy.

  1. Begin by entering the Company Name at the top of the form.
  2. Fill in the Date in the designated space.
  3. Provide the State and County information where the property is located.
  4. Write the Escrow Number in the specified field.
  5. Address the form to Whom It May Concern.
  6. State the name of the Company that has employed the undersigned.
  7. Fill in the Premises known as, along with the name of the Owner.
  8. Indicate the amount in dollars that the undersigned acknowledges receiving.
  9. Sign and date the form, providing your Address and Title.
  10. In the Contractor’s Affidavit section, state your Name and Position.
  11. Provide the Company Name of the contractor and the Building Address.
  12. Fill in the Total Amount of the Contract, including extras, and the amount already received.
  13. List the names and addresses of all parties who have furnished materials or labor.
  14. Complete the sections regarding the Contract Price, Amount Paid, and Balance Due.
  15. Confirm that there are no outstanding contracts related to the work.
  16. Finally, sign and date the affidavit. Ensure it is witnessed by a Notary Public.

Document Breakdown

Fact Name Details
Company Name The form requires the name of the company providing the waiver.
Governing Law This form is governed by the mechanics' lien statutes of the State of Illinois.
Purpose The waiver releases any lien rights related to labor and materials provided.
Consideration The waiver is executed in exchange for a specified amount of money.
Extras Definition Extras include change orders, both oral and written, related to the contract.
Contractor's Affidavit The form includes an affidavit confirming the contractor's payment status.
Signature Requirement A signature from the contractor is required to validate the waiver.
Notary Public The form must be notarized to ensure its legal validity.
Address Requirement The address of the property involved must be clearly stated on the form.

FAQ

What is the purpose of the Chicago Title Waiver Format form?

The Chicago Title Waiver Format form is designed to release any claims or liens that a contractor or supplier may have on a property. By signing this form, the undersigned acknowledges receipt of payment and waives their right to file a mechanics' lien against the property for the work or materials provided. This ensures that the property owner can proceed with their project without the risk of future claims related to unpaid services or materials.

Who needs to complete this form?

This form is typically completed by contractors, subcontractors, or suppliers who have provided labor or materials for a construction project. It is essential for those who want to formally acknowledge payment and prevent any future claims against the property owner. The form must be filled out accurately to reflect the specifics of the work completed and the payments received.

What information is required on the form?

The form requires several key pieces of information, including:

  • The name of the company providing the services or materials.
  • The property address where the work was performed.
  • The total contract amount, including any extras.
  • The amount paid to date.
  • A list of all parties who have provided labor or materials.
  • The balance due, if any.

Accurate completion of these details is crucial for the validity of the waiver.

What are "extras" in the context of this form?

In this context, "extras" refer to additional work or materials that were not included in the original contract. This can include change orders that may have been made either orally or in writing. It is important to specify these extras on the form to ensure that all aspects of the work are covered and that the waiver is comprehensive.

How does the waiver affect the property owner?

For property owners, the waiver provides peace of mind. Once the form is signed and delivered, it protects them from potential mechanics' liens related to the work performed. This means that they can continue their project without the concern of contractors or suppliers claiming unpaid debts against the property. It also helps in maintaining clear financial records related to the project.

Is notarization required for the form?

Yes, notarization is required for the Chicago Title Waiver Format form. The signature of the individual completing the form must be notarized to confirm their identity and the authenticity of the document. This step adds an extra layer of protection and validity to the waiver, ensuring that it can be upheld if any disputes arise in the future.

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Chicago Title Waiver Format Example

COMPANY NAME

WAIVER OF LIEN TO DATE

 

S STATE OF ILLINOIS

Gty #

COUNTY OF

Escrow #

TO WHOM IT MAY CONCERN:

 

WHEREAS the undersigned has been employed by

 

to furnish

 

for the premises known as

 

of which

is the owner.

THE undersigned, for and in consideration of

($) Dollars, and other good and valuable considerations, the receipt whereof is hereby acknowledged, do(es) hereby waive and release any and all lien or claim of, or right to, lien, under the statutes of the State of Illinois, relating to mechanics’ liens, with respect to and on said above-described premises, and the improvements thereon, and on the material, fixtures, apparatus or machinery furnished, and on the moneys, funds or other considerations due or to become due from the owner, on account of all labor, services, material, fixtures, apparatus or machinery, furnished to this date by the undersigned for the above-described premises,

INCLUDING EXTRAS.* DATE

ADDRESS

SIGNATURE AND TITLE _______________________________________________________________________________

*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT

CONTRACTOR’S AFFIDAVIT

STATE OF ILLINOIS

COUNTY OF

 

TO WHOM IT MAY CONCERN:

 

THE UNDERSIGNED, (NAME)

BEING DULY SWORN, DEPOSES

AND SAYS THAT HE OR SHE IS (POSITION)

OF

(COMPANY NAME)

WHO IS THE

CONTRACTOR FURNISHING

WORK ON THE BUILDING

LOCATED AT

 

OWNED BY

 

That the total amount of the contract including extras* is $

on which he or she has received payment of

$prior to this payment. That all waivers are true, correct and genuine and delivered unconditionally and that there is no claim either legal or equitable to defeat the validity of said waivers. That the following are the names and addresses of all parties who have furnished material or labor, or both, for said work and all parties having contracts or sub contracts for specific portions of said work or for material entering into the construction thereof and the amount due or to become due to each, and that the items mentioned include all labor and material required to complete said work according to plans and specifications:

NAMES AND ADDRESSES

WHAT FOR

CONTRACT PRICE INCLDG EXTRAS*

AMOUNT

PAID

THIS

PAYMENT

BALANCE

DUE

TOTAL LABOR AND MATERIAL INCLUDING EXTRAS* TO COMPLETE.

That there are no other contracts for said work outstanding, and that there is nothing due or to become due to any person for material, labor or other work of any kind done or to be done upon or in connection with said work other than above stated.

DATE_______________________________

SIGNATURE:_______________________________________________

SUBSCRIBED AND SWORN TO BEFORE ME THIS______________________DAY OF__________________,__________

*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE

 

_____________________________________________

ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.

NOTARY PUBLIC

f.1722 R5/96

Provided by Chicago Title Insurance Company