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Conditional Lien Waiver on Partial Payment Form - Bedford County
Fill in the blank form formatted to comply with all recording and content requirements.
Included document last updated 5/8/2020
Conditional Lien Waiver on Partial Payment Guide - Bedford County
Line by line guide explaining every blank on the form.
Included document last updated 5/19/2020
Completed Example of the Conditional Lien Waiver on Partial Payment Document - Bedford County
Example of a properly completed form for reference.
Included document last updated 5/20/2020
*The Following Virginia and Bedford County supplemental forms are included as a courtesy with your order.
Virginia Land Record Cover Sheet (VLRCS)
When recording a real estate deed in Virginia, a bar-coded, cover sheet is required in many counties/cities. This form must be generated online at the Virginia courts website. The information sheet provides a link to the form generator and further instructions. Contact the local office to confirm whether this cover sheet is required.
VA Circuit Court Deed Fee Schedule
This detailed schedule lists amounts by instrument and includes taxes, both due at the time of recording. We advise customers to contact the local court in order to confirm the amount.
Certificate of Transfer
Use this form for protection of assignees or transferees of debts secured by real estate.
Notary Certificates
The supplemental forms in this section can be used as loose certificates by notaries in Virginia.
Including:
Lien waivers are quid-pro-quo arrangements between contractors and owners, intended to induce payment from an owner in return for the contractor waiving some or all available mechanic's lien rights.
In Virginia, any right to file or enforce any mechanics' lien may be waived in whole or in part at any time by any person entitled to such lien, except that a subcontractor, lower-tier subcontractor, or material supplier may not waive or diminish his lien rights in a contract in advance of furnishing any labor, services, or materials. Va. Code 43-3(C).
Waivers fall under two broad categories of "conditional" and "unconditional," and there are two subcategories of waivers for a "partial" or "final" payment. Each type comes with benefits and risks, so take care to use the correct form for the situation.
A conditional waiver depends on the actual receipt of payment, so use it when a party pays by check, but the recipient is not sure that it will clear. Therefore, if the bank returns the check unpaid, it is still possible to claim a lien down the line. This type of waiver offers greater protection to the contractor.
Use a partial payment waiver to acknowledge a payment on account. Think of it as a receipt that shows the owner has at least paid up to that amount.
So, a conditional waiver on partial payment releases the claimant's lien rights, to an agreed-upon point, on the condition that the check clears at the bank.
When used properly, waivers are advantageous for both a contractor and owner, and can facilitate the flow of business and encourage prompt payment without any unnecessary delays.
This article is provided for informational purposes only and should not be relied upon a substitute for the advice of an attorney. Please contact a lawyer with any questions about Virginia lien waivers.
Get your Bedford County Conditional Lien Waiver on Partial 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 Bedford County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
4.8 out of 5 (1464 Reviews) June 4th, 2020
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June 3rd, 2020
Name: barbara s.
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