Kentucky Partial Unconditional Lien Waiver
Where is the property is located?Adair CountyAllen CountyAnderson CountyBallard CountyBarren CountyBath CountyBell CountyBoone CountyBourbon CountyBoyd CountyBoyle CountyBracken CountyBreathitt CountyBreckinridge CountyBullitt CountyButler CountyCaldwell CountyCalloway CountyCampbell CountyCarlisle CountyCarroll CountyCarter CountyCasey CountyChristian CountyClark CountyClay CountyClinton CountyCrittenden CountyCumberland CountyDaviess CountyEdmonson CountyElliott CountyEstill CountyFayette CountyFleming CountyFloyd CountyFranklin CountyFulton CountyGallatin CountyGarrard CountyGrant CountyGraves CountyGrayson CountyGreen CountyGreenup CountyHancock CountyHardin CountyHarlan CountyHarrison CountyHart CountyHenderson CountyHenry CountyHickman CountyHopkins CountyJackson CountyJefferson CountyJessamine CountyJohnson CountyKenton CountyKnott CountyKnox CountyLarue CountyLaurel CountyLawrence CountyLee CountyLeslie CountyLetcher CountyLewis CountyLincoln CountyLivingston CountyLogan CountyLyon CountyMadison CountyMagoffin CountyMarion CountyMarshall CountyMartin CountyMason CountyMccracken CountyMccreary CountyMclean CountyMeade CountyMenifee CountyMercer CountyMetcalfe CountyMonroe CountyMontgomery CountyMorgan CountyMuhlenberg CountyNelson CountyNicholas CountyOhio CountyOldham CountyOwen CountyOwsley CountyPendleton CountyPerry CountyPike CountyPowell CountyPulaski CountyRobertson CountyRockcastle CountyRowan CountyRussell CountyScott CountyShelby CountySimpson CountySpencer CountyTaylor CountyTodd CountyTrigg CountyTrimble CountyUnion CountyWarren CountyWashington CountyWayne CountyWebster CountyWhitley CountyWolfe CountyWoodford County
Partial Unconditional Lien Waiver for Real Estate Located in Kentucky
Mechanic's liens are governed under Chapter 376 of Kentucky Revised Statutes (K.R.S.). Although Kentucky law doesn't provide a required format for a waiver, claimants can use various types of lien waivers in order to simplify payments between contractors, subcontractors, customers, and property owners. A waiver is a knowing relinquishment of a right. In this case, the person granting the waiver is relinquishing 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.
Lien waivers are generally either based on a partial/progress payment or a final payment, and may be conditional or unconditional. Partial waivers release a portion of the lien rights, determined by the amount paid. Final waivers release all lien rights because the balance is paid in full. Conditional waivers give more protection to the claimant, and are dependent on any payments clearing the bank. Unconditional waivers give the advantage to the party responsible for paying, and take effect immediately upon recording, regardless of whether or not the bank covers the check.
Regardless of their nature, waivers must identify the parties, a description of the location and type of goods and/or services provided, significant dates, fees, and payments. Record the completed waiver in the office responsible for maintaining the land records for the county where the subject property is located.
A partial unconditional waiver is also used when a progress or partial payment is made, but signifies that lien rights are waived to the extent of the amount paid or purported to be paid. The waiver is not conditioned upon the actual receipt of that money, and the right to seek a lien for that amount is forfeited regardless of payment actually going through.
This article is provided for information purposes only and should not be relied upon as a substitute for the advice from a legal professional. Please speak with an attorney with questions about using a lien waiver, or for any other issues related to liens in Kentucky.