Nevada Conditional Waiver and Release upon Progress Payment
Provided under NRS 108.2457(5)(a), this waiver offers the most protection for lien claimants, because it states that if the claimant(s) have actually been paid to date (including no returned or stopped payment checks) the waiver serves as effective proof against any lien claim on the property. The lien is "conditioned" on receiving payment and is only waived if the claimant actually receives the payment.
By filing the form, the lien claimant represents that he or she either has already paid or will use the money he or she receives from this progress payment in order to make prompt payment in full all his or her laborers, subcontractors, materialmen and suppliers for all work, materials or equipment that are the subject of this waiver and release.
Getting a lien waiver also allows property owners to shield the title to their property from the general contractor, material supplier and every subcontractor involved with a project. By releasing the lien upon a progress payment, the property owner once again has clear title and can obtain financing or sell the property.
The property owner should require lien and labor waivers to be submitted with the contractor's invoices and no payment of any invoice should be made unless properly signed lien and labor waivers are provided. Proper lien waivers can protect the property owner from liens filed by the contractor's subcontractors, suppliers and laborers who might record a lien if they are not paid by the contractor.
Each case is unique, so contact an attorney with specific questions or for complex situations.
Deeds.com Nevada Conditional Waiver upon Progress Forms Have Been Updated as Recently as Wednesday October 2, 2019
What others like you are saying:
Ralph E. said: I wish I had found this site earlier!!! Not only was it helpful and just what I needed but I got my information so fast AND on the weekend. I would recommend this site to everyone. I plan on using it more. Its cheap and I can get my information while sitting at home. Very impressed!
Reply from Staff: Thank you for the kinds words Ralph. Have a great day!
Matt G. said: The process went smoothly and gave me what I needed. As an improvement, I would recommend that deeds.com sends an email when there is a new message in the portal. I didn't get any updates and had to log in to track progress each time.
Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!
Sandra B. said: Easy and fast. Was able to find the documents needed and saved so much money!!
Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!
James C. said: An excellent resource for users.
Reply from Staff: Thank you!
William M. said: I got what I needed and did exactly what I needed. All legal and no hassle. Thanks Deeds.com, you made the job much easier.
Reply from Staff: Thank you!
Joseph T. said: I downloaded the wrong form, how do I change this, or can I?
Reply from Staff: Sorry to hear that. As a one time courtesy we have canceled your order and payment for the documents you ordered in error. Have a great day.
Select County or Independent City where the property is located.