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Homepage → Fill Your Illinois Final Waiver Of Lien Form
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The Illinois Final Waiver of Lien form serves a crucial role in the construction and contracting landscape, ensuring that all parties involved in a project are protected and informed. This form is typically utilized by contractors, subcontractors, and suppliers to formally relinquish their right to file a lien against a property after receiving payment for their work or materials. By signing this document, the undersigned acknowledges receipt of a specified amount of money and releases any claims to the property in question. This waiver not only covers the primary contract but also includes any additional costs or "extras," such as change orders, that may have arisen during the course of the project. The form is structured to provide clear information about the parties involved, the nature of the work performed, and the financial details surrounding the contract. Additionally, it requires an affidavit from the contractor, affirming the accuracy of the information provided and confirming that no other claims or outstanding contracts exist. Overall, this document is essential for maintaining transparency and protecting the interests of all parties in construction projects throughout Illinois.

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Document Specifics

Fact Name Details
Purpose The Illinois Final Waiver of Lien form serves to waive any lien rights the undersigned may have against a property after receiving payment for services rendered.
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.
Consideration In exchange for waiving lien rights, the undersigned acknowledges receipt of payment, which must be clearly stated in the form.
Extras The term "extras" includes any change orders, whether oral or written, that may affect the contract price and must be accounted for in the waiver.
Affidavit Requirement The form requires a sworn affidavit from the contractor, confirming the accuracy of the information provided and the absence of outstanding claims.
Notarization A notary public must witness the signature on the form, ensuring its authenticity and legal validity.

How to Write Illinois Final Waiver Of Lien

Completing the Illinois Final Waiver of Lien form is an important step in ensuring that all parties involved in a construction project are clear about payments and claims. This form serves to release any lien rights associated with work performed on a property. Follow the steps below to accurately fill out the form.

  1. Begin by entering the City and County where the work was performed in the designated fields.
  2. Fill in the Escrow Number if applicable.
  3. In the first blank line, provide the name of the entity that employed you.
  4. In the next blank line, describe the work or materials you provided.
  5. Specify the premises where the work was done in the following blank line.
  6. Identify the owner of the premises in the next blank line.
  7. Enter the consideration amount received for the work in the space provided, along with the dollar amount in parentheses.
  8. Write the date of completion at the designated spot.
  9. Fill in your company name in the appropriate field.
  10. Provide your address in the next line.
  11. Sign the form and include your title beneath your signature.

After completing the first section, proceed to the Contractor’s Affidavit section. This part requires additional information about the contractor and any payments received. Make sure to provide accurate details to avoid any discrepancies.

  1. Write your name in the first blank line of the Contractor’s Affidavit.
  2. State your position in the next line.
  3. Enter your company name in the following blank line.
  4. Describe the work performed in the next blank line.
  5. Provide the location of the building where the work was done.
  6. Identify the owner of the property in the designated space.
  7. Fill in the total contract amount including extras.
  8. Indicate the amount received prior to this payment.
  9. List the names and addresses of all parties who provided labor or materials.
  10. Complete the details for the contract price, amount paid, and balance due for each party.
  11. Confirm that there are no outstanding contracts for the work.
  12. Sign and date the affidavit.
  13. Have the document notarized by a public notary.

Once you have completed both sections of the form, review all entries for accuracy. Ensure that all required signatures are in place before submitting the document to the relevant parties.

↓ Illinois Final Waiver Of Lien File

Dos and Don'ts

When filling out the Illinois Final Waiver of Lien form, it is essential to follow certain guidelines to ensure accuracy and legality. Here are some important dos and don’ts to keep in mind:

  • Do provide complete and accurate information about the contractor and the property.
  • Do specify the total contract amount, including any extras.
  • Do clearly state the payment received prior to this waiver.
  • Do list all parties involved in the project and their respective amounts due.
  • Don't leave any sections blank, as incomplete forms may be rejected.
  • Don't forget to sign and date the form; an unsigned form is invalid.
  • Don't omit the notary section; having the document notarized is crucial.
  • Don't use vague language; be specific about the work and materials provided.

Documents used along the form

The Illinois Final Waiver of Lien form is often accompanied by several other documents that serve various purposes in the construction and contracting process. Below is a list of related forms and documents commonly used alongside the waiver.

  • Contractor’s Affidavit: This document verifies the contractor's identity and confirms the total contract amount, including any extras. It ensures that all waivers are genuine and that there are no outstanding claims against the project.
  • Preliminary Notice: This notice informs property owners and general contractors that a subcontractor or supplier is providing materials or services. It is often required to preserve lien rights.
  • Non-Disclosure Agreement: A crucial document for protecting sensitive information and maintaining confidentiality during business dealings. For more information, visit floridaforms.net/blank-non-disclosure-agreement-form.
  • Notice of Intent to Lien: This document serves as a warning to property owners that a lien may be filed if payment is not received. It is typically sent before the actual lien is filed.
  • Mechanics Lien: This legal document is filed against a property when payment for labor or materials has not been received. It establishes a claim on the property until the debt is settled.
  • Change Order: This document outlines any modifications to the original contract, including changes in scope, price, or schedule. It must be agreed upon by all parties involved.
  • Payment Application: This form is used by contractors to request payment for work completed. It details the amount due and may include supporting documentation for the work performed.
  • Release of Lien: This document is filed after payment is received to formally release any claims against the property. It is essential for clearing the title and confirming that the contractor has been paid.

These documents play a critical role in ensuring compliance and protecting the rights of all parties involved in construction projects. Proper management of these forms can help avoid disputes and facilitate smoother transactions.