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The Illinois Final Waiver of Lien form is an essential document in the construction and real estate industries, serving to protect both contractors and property owners. This form is utilized when a contractor or subcontractor has completed their work and received payment, allowing them to waive any future claims against the property for unpaid labor or materials. The document includes critical information such as the names of the parties involved, the specific work performed, and the total contract amount, including any extras. By signing this waiver, the contractor acknowledges receipt of payment and relinquishes any right to file a mechanics' lien on the property in question. This waiver not only provides clarity and assurance to property owners but also helps contractors maintain a transparent financial relationship with their clients. It is crucial for all parties to understand that this waiver applies to all work completed to date, including any change orders that may have been agreed upon. Therefore, careful attention should be paid to the details outlined in the form, ensuring that all necessary information is accurately documented.

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Dos and Don'ts

When filling out the Illinois Final Waiver of Lien form, it is important to adhere to specific guidelines to ensure accuracy and compliance. Below are six recommended practices and pitfalls to avoid:

  • Do: Ensure all fields are completed accurately, including the contractor’s name, company name, and project details.
  • Do: Double-check the total contract amount and any payments received prior to submission.
  • Do: Include all relevant parties who have furnished labor or materials, along with their addresses.
  • Do: Sign and date the form in the designated areas to validate the waiver.
  • Don't: Leave any sections blank; incomplete forms may lead to delays or disputes.
  • Don't: Forget to have the affidavit notarized, as this is a crucial step for legal recognition.

Illinois Final Waiver Of Lien Sample

FINAL WAIVER OF LIEN

STATE OF ILLINOIS

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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, heretofore furnished, or which may be furnished at any time hereafter, by the undersigned for the above-described premises, INCLUDING EXTRAS.*

DATE ____________________________ COMPANY NAME ________________________________________________________

ADDRESS ________________________________________________________________

SIGNATURE AND TITLE _______________________________________________________________

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

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STATE OF ILLINOIS

} SS

CONTRACTOR’S AFFIDAVIT

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 contacts 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

Copyright ©2005 Greater Illinois Title Company. All Rights Reserved. http://gitc.com/forms/

Compliments of Greater Illinois Title Company; for Internal and External Use.

Universal Doc Ref: GP_IEF0029-20050804-R1-0

Listed Questions and Answers

  1. What is the purpose of the Illinois Final Waiver of Lien form?

    The Illinois Final Waiver of Lien form is used to formally release any claims or liens against a property. When a contractor or supplier completes work and receives payment, this document confirms that they waive their right to file a lien for the work done. It helps protect property owners from future claims related to unpaid labor or materials.

  2. Who needs to sign the form?

    The form should be signed by the contractor or supplier who provided labor or materials for the project. This individual must also confirm their position within the company, ensuring that they have the authority to sign on behalf of the business. Proper identification of the company and the project is essential for the form to be valid.

  3. What information is required on the form?

    The form requires several key pieces of information, including:

    • The name and address of the contractor or supplier.
    • The name of the property owner.
    • A description of the work done or materials provided.
    • The total contract amount, including any extras.
    • The amount already paid and the balance due, if any.

    All these details help clarify the transaction and ensure that all parties are aware of their rights and obligations.

  4. What are "extras" in the context of this form?

    Extras refer to any additional work or materials that were not included in the original contract. This can include change orders, whether they are written or verbal. It is important to list any extras on the form to ensure that all parties acknowledge these additional costs and that the waiver covers them as well.

  5. Is a notary required for this form?

    Yes, a notary public must witness the signing of the form. This adds an extra layer of authenticity and legal validity. The notary will sign and stamp the document, confirming that the contractor or supplier has sworn to the truthfulness of the information provided.

Form Overview

Fact Name Description
Purpose The Illinois Final Waiver of Lien form is used to release any claims or liens against a property after payment has been received for work done.
Governing Law This form is governed by the mechanics' lien laws of the State of Illinois.
Consideration The form requires the undersigned to acknowledge receipt of payment in exchange for waiving any lien rights.
Extras Extras include change orders, both oral and written, that may impact the contract price.
Notarization The form must be notarized to verify the identity of the signer and the authenticity of the waiver.
Required Information Important details include the names of parties involved, the contract amount, and any payments received.