Lien Waiver
Definition
A lien waiver is a signed document where a contractor or subcontractor relinquishes the right to file a mechanic's lien against the property in exchange for payment received. Conditional waivers take effect when payment clears; unconditional waivers take effect immediately upon signing.
Common Questions
Real-World Example
You'd see this when a homeowner in Vancouver, WA pays the final invoice on a kitchen remodel and CRM Services provides signed lien waivers from every subcontractor and material supplier involved.
Why It Matters
CRM Services issues lien waivers as part of standard project closeout to give clients clean title and confidence after final payment.
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