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Conditional Lien Waiver on Final Payment Form - Madison County
Fill in the blank form formatted to comply with all recording and content requirements.
Included document last updated 5/11/2020
Conditional Lien Waiver on Final Payment Guide - Madison County
Line by line guide explaining every blank on the form.
Included document last updated 6/1/2020
Completed Example of the Conditional Lien Waiver on Final Payment Document - Madison County
Example of a properly completed form for reference.
Included document last updated 5/5/2020
*The Following Alabama and Madison County supplemental forms are included as a courtesy with your order.
RT-1
This is a required form due at the time of filing. The form, called the "Real Estate Sales Validation Form" and labeled "Form RT-1," is to be signed by the grantor, grantee, owner or agent, and requires, in addition to other basic information, the total purchase price, the actual value, or the assessor's market value of the property.
Non-Resident Withholding Forms
The forms included at the end of this package are for non-resident transfers, which include individuals, trusts, partnerships, corporations, limited liability companies, limited liability partnerships, and unincorporated organizations. The package includes all the information and forms that the State of Alabama requires regarding a non-residence transfer of real property. Forms in package must be printed before filling in. The individual forms are the same as those in the package, but can be filled out before printing.
Alabama Homestead Exemptions
H1 Homestead Exemption 1 is available to all citizens of Alabama who own and occupy single-family residences, including manufactured homes, as their primary residences and use their property for no other purposes. The amount of the exemption is $4,000 in assessed value for State taxes and $2,000 in assessed value for County taxes.
Notary Certificates
The supplemental forms in this section can be used as loose certificates by notaries in the state.
Including:
Alabama Conditional Waiver and Release of Lien on Final Payment
Alabama mechanic's liens are governed under Chapter 11 of the Alabama Property Code (Section 11). Throughout the construction process, potential claimants may elect to serve the property owner with a lien waiver in exchange for partial or full payment.
The term "waiver" refers to giving up a legal right. In this case, the person granting the waiver is giving up the right to seek a mechanic's lien for all or part of the amount due. This assurance is usually enough to get the other party to pay. In Alabama, there are no statutory forms for waivers although according to the principles of contract law, the parties may agree to such modifications in writing.
Waivers generally come in four varieties: conditional or unconditional, and partial or final. A conditional waiver means the waiver is conditioned upon the claimant receiving the amount due, while unconditional waivers are effective regardless if payment is actually made. Partial waivers are used to waive a lien for up to the partial or progress payment amount, and final waivers release all lien rights based on a customer's full payment.
Use a final conditional waiver when the full and final payment is made, but there are doubts about the payment method. For instance, if there are any concerns a final check won't clear, opt for a conditional waiver. This option protects the claimant's rights to lien until the payment is confirmed, at which point the waiver goes into effect.
This article is provided for informational purposes only and should not be relied upon as a substitute for the advice from an attorney. Please contact an attorney with questions about waivers or anything else related mechanic's liens in Alabama.
Get your Madison County Conditional Lien Waiver on Final Payment form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties.
The documents you receive here will meet, or exceed, the Madison County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
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