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Fill in a Valid Illinois Final Waiver Of Lien Form

The Illinois Final Waiver of Lien form serves as a critical legal document that allows contractors and subcontractors to formally relinquish their right to file a lien against a property once they have received payment for their work. By executing this form, the undersigned affirms that all labor and materials have been compensated, thereby protecting property owners from potential claims related to unpaid services. Understanding the implications of this waiver is essential for both parties involved in a construction project, as it ensures clarity and security in financial transactions.

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Fill in a Valid Illinois Final Waiver Of Lien Form

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Document Sample

FINAL WAIVER OF LIEN

STATE OF ILLINOIS	} SS	Gty # _____________________
COUNTY OF _____________________________	} SS	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, heretofore furnished, or which may be furnished at any time hereafter, by the undersigned for the above-described premises, INCLUDING EXTRAS.*

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 _____________________________	} SS	CONTRACTOR’S AFFIDAVIT
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

Compliments of Greater Illinois Title Company; for Internal and External Use.

Universal Doc Ref: GP_IEF0029-20050804-R1-0

Document Information

Fact Name	Fact Details
Purpose	The Illinois Final Waiver of Lien form is used to waive and release any lien claims related to construction work performed on a property.
Governing Law	This form is governed by the Illinois Mechanics Lien Act.
Consideration	The waiver is executed in exchange for a specified amount of money or other valuable consideration.
Extras Definition	Extras include change orders, both oral and written, that modify the original contract.
Affidavit Requirement	The contractor must provide an affidavit confirming the accuracy of the waiver and the absence of outstanding claims.
Signatures	The form must be signed by the contractor and notarized to be valid.
Payment Confirmation	The contractor must disclose the total contract amount and the payments received prior to executing the waiver.
Parties Involved	The form requires the identification of all parties who have provided labor or materials for the project.

Illinois Final Waiver Of Lien - Usage Guidelines

Filling out the Illinois Final Waiver of Lien form is a straightforward process. This document serves as a formal declaration that a contractor or subcontractor has received payment for work done and waives any future claims against the property in question. To ensure accuracy and completeness, follow these steps carefully.

Obtain the Form: Start by acquiring a copy of the Illinois Final Waiver of Lien form. You can find it online or request it from a legal professional.
Fill in the County and City: In the top section, write the name of the county and city where the property is located.
Enter Escrow Number: If applicable, include the escrow number in the designated space.
Identify the Employer: Fill in the name of the entity that employed you to perform the work.
Describe the Work: Clearly outline the type of work or materials you provided for the project.
Property Description: Specify the address of the property where the work was performed.
Owner’s Name: Write the name of the property owner.
Payment Amount: Indicate the total payment amount you received for your work.
Date: Fill in the date on which you are completing the form.
Company Information: Provide your company name and address in the designated areas.
Signature and Title: Sign the form and include your title within the company.
Contractor’s Affidavit Section: Complete the contractor's affidavit section by providing your name, position, and company name.
Contract Amount: State the total contract amount, including any extras, and the payment you have received prior to this payment.
List of Parties: Include the names and addresses of all parties who have provided labor or materials for the work.
Final Checks: Review the form for any errors or missing information before submission.
Notary Section: Finally, sign in front of a notary public, who will verify your identity and witness your signature.

After completing the form, ensure that it is submitted to the appropriate parties, such as the property owner or the title company. Retain a copy for your records, as it may be useful for future reference or in case of any disputes.

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Dos and Don'ts

When filling out the Illinois Final Waiver Of Lien form, it’s important to follow specific guidelines to ensure accuracy and compliance. Here are eight things you should and shouldn’t do:

Do provide complete and accurate information about the contractor and the work performed.
Do include the correct amount of payment received prior to submitting the waiver.
Do sign the form in the presence of a notary public to validate the document.
Do clearly list all parties involved in the project, including their addresses.
Don't leave any sections blank; every part of the form must be filled out.
Don't submit the waiver without confirming that all previous payments have been made.
Don't ignore the inclusion of extras, as they can impact the total amount due.
Don't forget to keep a copy of the signed waiver for your records.

Common mistakes

Incomplete Information: Failing to fill in all required fields can lead to delays or rejection of the form. Make sure to include the contractor's name, company name, and all relevant addresses.
Incorrect Dollar Amount: Entering the wrong payment amount can create confusion. Double-check the total contract amount and the payment received to ensure accuracy.
Missing Signatures: Not signing the form can invalidate it. Ensure that the contractor's signature and title are clearly provided.
Ignoring Extras: Forgetting to account for extras, such as change orders, can lead to future disputes. Clearly list any additional work that has been done and its associated costs.
Not Notarizing: Failing to have the form notarized can render it ineffective. A notary public must witness the signature for the waiver to be legally binding.
Omitting Relevant Parties: Not listing all parties who have provided labor or materials can create legal complications. Make sure to include all contractors, subcontractors, and suppliers involved in the project.

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