Navigating The Protections Of Various Lien Waivers
Law360 (April 2, 2018, 6:06 PM EDT) -- Developers, real estate financers and contractors understand the importance of mechanic's lien waivers. Since mechanic's liens can cloud title and hinder the sale of a property, they provide contractors and subcontractors with an effective means to collect payment. Owners benefit from lien protection tools such as lien waivers to freely access and market the project after completion. Traditionally, a lien waiver functioned as an acknowledgment that some payment was paid and the lienholder released its right to file a lien on a subject property for that payment. Over the years, the content of lien waivers grew to include additional protections....
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