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FINAL WAIVER OF LIEN STATE OF ILLINOIS COUNTY OF COOK SS Gty Loan TO WHOM IT MAY CONCERN WHEREAS the undersigned has been employed by to furnish for the premises known as of which is the owner. The undersigned for and in consideration of Dollars and other good and valuable consideration the receipt whereof is hereby acknowledged do es hereby waive and release any and all lien or claim of or right to lien under the statutes of the State of Illinois relating to mechanics liens with respect to and...on said above-described premises and the improvements thereon and on the material fixtures apparatus or machinery furnished and on the moneys funds or other considerations due or to become due from the owner on account of labor services material fixtures apparatus or machinery heretofore furnished or which may be furnished at any time hereafter by the undersigned for the abovedescribed premises. Given under hand and seal day of this. Signature and Seal NOTE All waivers must be for the full...amount paid. If waiver is for a corporation corporate name should be used corporate seal affixed and title of officer signing waiver should be set forth if waiver is for a partnership the partnership name should be used partner should sign and designate himself as partner. The undersigned for and in consideration of Dollars and other good and valuable consideration the receipt whereof is hereby acknowledged do es hereby waive and release any and all lien or claim of or right to lien under the...statutes of the State of Illinois relating to mechanics liens with respect to and on said above-described premises and the improvements thereon and on the material fixtures apparatus or machinery furnished and on the moneys funds or other considerations due or to become due from the owner on account of labor services material fixtures apparatus or machinery heretofore furnished or which may be furnished at any time hereafter by the undersigned for the abovedescribed premises. Given under hand...and seal day of this. Signature and Seal NOTE All waivers must be for the full amount paid* If waiver is for a corporation corporate name should be used corporate seal affixed and title of officer signing waiver should be set forth if waiver is for a partnership the partnership name should be used partner should sign and designate himself as partner. CONTRACTOR S AFFIDAVIT COUNTY OF THE undersigned being duly sworn deposes and says that he is of the who is the contractor for the work on the...building located at owned by That the total amount of the contract including extras is on which he has received payment of prior to this payment. That all waivers are true correct and genuine and delivered unconditionally and that there is no claim either legal or equitable to defeat the validity of said waivers That the following are the names of all parties who have furnished material or labor or both for said work and all parties having contracts or sub-contracts for specific portions of said...work or for material entering into the construction thereof and the amount due or to be dome due to each and that the items mentioned include all labor and material required to complete said work according to plans and specifications NAMES WHAT FOR CONTRACT PRICE AMOUNT PAID THIS PAYMENT BALANCE DUE TOTAL LABOR AND MATERIAL TO COMPLETE That there are no other contracts for said work outstanding and that there is nothing due or to become due to any person for material labor or other work of any...kind done or to be done upon or in connection with said work other than above stated* Signed this Signature Subscribed and sworn to before me on this.
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Understanding the Lien Clearance Letter in Illinois

What is a lien clearance letter in Illinois?

A lien clearance letter in Illinois serves as a formal document indicating that a lien has been satisfied and is no longer active on a property. This form is essential for property owners who wish to show potential buyers or lenders that there are no outstanding claims against their property. It typically confirms that all dues and obligations related to the lien have been settled.

When to Use the lien clearance letter in Illinois

Property owners should use the lien clearance letter when they have paid off any outstanding liens. This is crucial when selling a property or obtaining new financing. It provides assurance to buyers and lenders that the property is free from encumbrances, facilitating smoother transactions and financial arrangements.

How to Fill Out the lien clearance letter in Illinois

Filling out the lien clearance letter form involves several steps to ensure accuracy. Start by entering the property owner's name and the associated property details. Next, specify the lien amount and confirm that it has been fully paid. Finally, include the date of payment and the signatures of the relevant parties. Accessing a digital platform for filling out this form can simplify the process and ensure that it is completed correctly.

Common Errors and Troubleshooting

While completing the lien clearance letter, common errors may include incorrect property details or missing signatures. Double-check all entries for accuracy before submission. If a form is rejected, reviewing the feedback and addressing the highlighted issues promptly can prevent delays in processing. Using a structured format for filling out the form can help minimize mistakes.

Benefits of Using the lien clearance letter in Illinois

Utilizing the lien clearance letter enhances the credibility of property transactions. It offers peace of mind to both sellers and buyers, ensuring that the property is free from legal claims. Additionally, it can expedite the closing process by removing any potential obstacles related to outstanding liens, which can ultimately save time and legal costs.

Key Features of the lien clearance letter in Illinois

The lien clearance letter generally includes essential details such as the name of the lienholder, description of the property, amount of the lien, and the date it was satisfied. It may also incorporate a statement confirming that the lien has been released, providing transparency throughout the property transaction process.

Frequently Asked Questions about a lien clearance letter in that confirms the lien release form

What is the purpose of a lien clearance letter?

The purpose of a lien clearance letter is to certify that all liens against a property have been settled, allowing for transparent transactions and lending opportunities.

How can I obtain a lien clearance letter?

To obtain a lien clearance letter, ensure that all dues related to the lien are paid. After payment, you can request the letter from the lienholder or use a digital service to fill out and manage the necessary forms.

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People Also Ask about

Notarization Not Required Illinois lien waivers are not required to be notarized in order to be effective.
Under Illinois law, a mechanics lien should be filed in the County Recorder of Deeds where the property is located. This is crucial as the lien must be filed not only in the correct county but the correct office as well. The fees and specific document formatting vary depending on your county.
Contractors, as well as subcontractors and material suppliers can file an Illinois construction lien. If a company does not have a contract with the owner or with the contractor, they are not eligible to file an Illinois mechanics lien claim.
Once an unconditional lien waiver is signed, it is fully effective and enforceable. While using an unconditional lien waiver will certainly protect your property, it won't guarantee that the signor actually receives payment, since unconditional waivers are typically enforceable even if signor never gets paid.
This il final conditional waiver (also called a final conditional lien release) should be used when the final payment for a project is expected but has yet to be received on a project in the state of il. Signing this waiver signifies that no further payments are expected following the payment described in the waiver.
WHAT MUST I DO BEFORE I FILE MY LIEN? Usually there is at least one notice that you must mail before you can file your lien. These notices are sometimes called notices of intent to file lien. Illinois Document Preparation fee of $165 includes all required notices of intent.
Indiana lien waivers are not required to be notarized, and notarization just slows down the process.
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