Commonly used in the construction industry, lien waivers have made their way into the world of real estate. While some title companies don’t require lien waivers as part of their process, Monarch Title Company does to better protect you and your property rights.
Lien waivers are the way to verify that subcontractors and materialmen have been paid, and it waives their rights to put a lien on the property. The main purpose of the lien waiver is to provide protection to the paying party, and it also acts as a receipt for payment to protect the buyer from paying more than once.
This might seem a little daunting, but it’s worth it. At Monarch Title, we understand that each transaction is different and therefore, the construction process can vary as well. We will work with any parties that we need to in order to get the documents signed as necessary.
So why is a lien waiver worth it? The quick answer: it helps with legal reasons. Having a lien waiver can help to lower the risk of a lien being filed and can be used in a court situation. It frees you of lien liability for a specific amount. It can also act as a reassurance to the payer. Once the payments have been made, the payer is no longer responsible for the dollar amount listed.
It’s important to have a title company that will provide detailed services to protect your assets. That’s why, at Monarch Title, we stay up-to-date on the requirements needed to protect your property rights, and we help to facilitate the documents needed to provide that protection.
So take the added step with the lien waivers. At Monarch Title Company, we’ll make sure that you’re always protected.