Glossary
What is a Lien Waiver in Construction?
A lien waiver is a legal document signed by a contractor or subcontractor acknowledging receipt of payment and waiving their right to file a mechanics lien against the property for the work covered.
Definition
A lien waiver is a legal document in which a contractor, subcontractor, or supplier waives their right to file a mechanics lien on a property in exchange for payment. Lien waivers protect property owners and lenders from the risk of double payment if a subcontractor was not paid by the general contractor.
Frequently Asked Questions
Related Glossary Terms
Run Your Construction Business With BuilderMate
Construction CRM, builder software, and commission tracking in one platform. $99/mo, all features included.