Lien Waiver

A lien waiver is a legal document used in the construction industry that confirms a contractor, subcontractor, or supplier has been paid for their work or materials, and they waive their right to place a lien on the property if they receive that payment. This means they can't claim any unpaid money from the property owner later. Lien waivers protect property owners from potential legal claims, ensuring that all parties have been compensated. They come in various forms, such as conditional (dependent on payment being cleared) or unconditional (indicating payment has been received).