Expert: Bogdan Oprea - 4/18/2007

Question
what is waiver of liens

Answer
Dear Sir,
Please find attached my answer to your question.
For our purposes, a waiver of mechanic's lien rights, signed by subcontractors so that the owner or general contractor can receive a draw on a construction loan.
lien waiver -- a document signed by a contractor, subcontractor, or other supplier of goods or services stating that the supplier has been paid for the work performed or goods supplied and waiving the supplier's right to file a claim against the property.