Fill Out a Valid Chicago Title Waiver Format Form Fill Out Your Document

Fill Out a Valid Chicago Title Waiver Format Form

The Chicago Title Waiver Format form is a legal document used in the state of Illinois to formally waive any lien rights associated with construction work. This form serves as a protection for property owners by ensuring that contractors and subcontractors relinquish their claims for payment on the work performed. By completing this form, parties involved can clarify their financial agreements and avoid potential disputes over unpaid labor or materials.

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Table of Contents

Form Overview

Fact Name Description
Company Name The form includes a section to specify the name of the company issuing the waiver.
State of Illinois This waiver is governed by the statutes of the State of Illinois, specifically relating to mechanics' liens.
Consideration The undersigned waives their lien rights in exchange for a specified amount of money and other valuable considerations.
Scope of Waiver The waiver covers all claims related to labor, materials, and services provided for the described premises.
Extras Definition Extras include change orders, both oral and written, that may impact the contract terms.
Contractor's Affidavit A section requires the contractor to affirm the accuracy of the information and confirm no outstanding claims exist.
Signatures Required The form must be signed by the undersigned and may require notarization to be valid.
Payment Information Details about the total contract amount, payments received, and balances due must be included.
Notary Requirement The completed form may need to be notarized to ensure its legal validity.
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Documents used along the form

The Chicago Title Waiver Format form is commonly used in real estate transactions to release any lien claims related to construction work. In addition to this form, several other documents often accompany it to ensure a comprehensive understanding of the contractual obligations and payments involved. Below are five such documents, each serving a specific purpose in the process.

  • Contractor’s Affidavit: This document is a sworn statement from the contractor affirming that they have received payment for work performed. It details the total contract amount, any payments made, and lists all parties involved in providing labor or materials for the project.
  • Mechanics Lien Waiver: Similar to the Chicago Title Waiver, this waiver specifically pertains to mechanics liens. It is signed by contractors or subcontractors to confirm that they relinquish their right to file a lien against the property for unpaid work or materials.
  • Change Order: A change order is a document that outlines any modifications to the original construction contract. It details changes in scope, cost, and timeframes and must be agreed upon by all parties involved.
  • Payment Application: This document is submitted by the contractor to request payment for work completed. It includes a breakdown of work done, materials used, and the total amount due, helping to facilitate timely payments.
  • Final Release of Lien: This document is issued at the end of a project to confirm that all payments have been made. It serves as a final waiver of any lien rights, ensuring that the property is free from any claims related to the project.

These documents work together to provide clarity and security for all parties involved in a construction project. Ensuring that each form is accurately completed and submitted helps prevent disputes and protects the rights of contractors, subcontractors, and property owners alike.

Document Sample

COMPANY NAME

WAIVER OF LIEN TO DATE

 

S STATE OF ILLINOIS

Gty #

COUNTY OF

Escrow #

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 considerations, 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 all labor, services, material, fixtures, apparatus or machinery, furnished to this date by the undersigned for the above-described premises,

INCLUDING EXTRAS.* DATE

ADDRESS

SIGNATURE AND TITLE _______________________________________________________________________________

*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT

CONTRACTOR’S AFFIDAVIT

STATE OF ILLINOIS

COUNTY OF

 

TO WHOM IT MAY CONCERN:

 

THE UNDERSIGNED, (NAME)

BEING DULY SWORN, DEPOSES

AND SAYS THAT HE OR SHE IS (POSITION)

OF

(COMPANY NAME)

WHO IS THE

CONTRACTOR FURNISHING

WORK ON THE BUILDING

LOCATED AT

 

OWNED BY

 

That the total amount of the contract including extras* is $

on which he or she 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 and addresses 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 become due to each, and that the items mentioned include all labor and material required to complete said work according to plans and specifications:

NAMES AND ADDRESSES

WHAT FOR

CONTRACT PRICE INCLDG EXTRAS*

AMOUNT

PAID

THIS

PAYMENT

BALANCE

DUE

TOTAL LABOR AND MATERIAL INCLUDING EXTRAS* 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.

DATE_______________________________

SIGNATURE:_______________________________________________

SUBSCRIBED AND SWORN TO BEFORE ME THIS______________________DAY OF__________________,__________

*EXTRAS INCLUDE BUT ARE NOT LIMITED TO CHANGE

 

_____________________________________________

ORDERS, BOTH ORAL AND WRITTEN, TO THE CONTRACT.

NOTARY PUBLIC

f.1722 R5/96

Provided by Chicago Title Insurance Company