Content Overview
Guide to Writing Illinois Final Waiver Of Lien
Completing the Illinois Final Waiver of Lien form is a straightforward process that requires attention to detail. This form serves to confirm that all payments have been made and that the undersigned waives any future claims against the property in question. After filling out the form, it must be signed and notarized to ensure its validity.
- Identify the Parties Involved: At the top of the form, fill in the city and county where the waiver is being executed. Include the escrow number if applicable.
- Provide Employment Details: In the designated space, enter the name of the party that employed you to furnish services or materials. Describe the work done or materials provided in detail.
- Specify the Property: Clearly state the address of the premises where the work was performed. Include the owner’s name to establish ownership.
- State the Consideration: Indicate the amount received for the work done, both in words and numerically. This amount is crucial for validating the waiver.
- Sign and Date: The form must be dated. The individual representing the company should sign the document and include their title for clarity.
- Complete the Contractor’s Affidavit: In the section provided, fill in the name and position of the undersigned, along with the company name. Include the total contract amount and the payments received prior to this waiver.
- List All Parties: Provide names and addresses of all parties involved in the work, including the amounts due to each. This ensures transparency in the transaction.
- Final Verification: Confirm that there are no outstanding contracts or claims related to the work done. This protects all parties involved.
- Notarization: After completing the form, it must be signed in the presence of a notary public. The notary will provide their signature and seal, validating the document.
Document Breakdown
| Fact Name | Fact Description |
|---|---|
| Purpose | The Illinois Final Waiver of Lien form is used to waive any lien rights on a property after payment has been received for services or materials provided. |
| Governing Law | This form is governed by the Illinois Mechanics Lien Act, which outlines the rights and responsibilities related to construction liens in the state. |
| Parties Involved | The form requires signatures from both the contractor and the property owner or their representative. |
| Consideration | The waiver is executed in exchange for a specified amount of money or other valuable considerations. |
| Extras Included | The form specifies that "extras" such as change orders, both oral and written, are included in the waiver. |
| Notarization | A notary public must witness the signing of the waiver to verify the identities of the parties involved. |
| Contractor's Affidavit | The form includes an affidavit section where the contractor confirms receipt of payment and the validity of waivers. |
| Payment Details | It requires detailed information about the total contract price, amount paid, and balance due. |
| Legal Protection | By signing the waiver, the contractor releases any future claims against the property related to the work performed. |
FAQ
What is the purpose of the Illinois Final Waiver of Lien form?
The Illinois Final Waiver of Lien form serves as a legal document that allows contractors and subcontractors to formally waive their right to file a lien against a property. By signing this document, the undersigned acknowledges that they have received payment for the work or materials provided. This waiver helps protect property owners from potential claims related to unpaid services or materials once the project is completed.
Who needs to sign the Illinois Final Waiver of Lien form?
This form must be signed by the contractor or subcontractor who has provided labor or materials for a construction project. It is essential for anyone who has a financial interest in the work done on the property, ensuring that they acknowledge receipt of payment and relinquish any future claims against the property owner.
What information is required to complete the form?
To complete the Illinois Final Waiver of Lien form, the following information is necessary:
- The name and address of the contractor or subcontractor.
- The name of the property owner.
- A description of the work or materials provided.
- The total amount of the contract, including any extras.
- The amount already received prior to this payment.
- The balance due, if any, and details of all parties involved in the project.
Accurate and complete information is crucial to ensure the validity of the waiver.
What are "extras" in the context of this form?
"Extras" refer to any additional work or materials that go beyond the original contract terms. This may include change orders, which can be either verbal or written agreements to modify the scope of work. It is important to include these extras in the waiver to provide a complete picture of the financial transactions related to the project.
What happens if the form is not signed?
If the Illinois Final Waiver of Lien form is not signed, the contractor or subcontractor retains the right to file a lien against the property. This could lead to legal complications for the property owner, including potential claims for unpaid work or materials. Therefore, it is in the best interest of both parties to ensure that this document is completed and signed upon final payment.
Is notarization required for the Illinois Final Waiver of Lien form?
Yes, notarization is required for the Illinois Final Waiver of Lien form. The signature of the contractor or subcontractor must be witnessed by a notary public to validate the document. This step adds an extra layer of security and authenticity, ensuring that the waiver is legally binding.
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Illinois Final Waiver Of Lien Example
FINAL WAIVER OF LIEN
STATE OF ILLINOIS |
} SS |
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
DATE ____________________________ COMPANY NAME ________________________________________________________
ADDRESS ________________________________________________________________
SIGNATURE AND TITLE _______________________________________________________________
* EXTRAS INLCUDE BUT ARE NOT LIMITED TO CHANGE ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.
STATE OF ILLINOIS |
} SS |
CONTRACTOR’S AFFIDAVIT |
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 contacts 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
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