Fill Out Your Chicago Title Waiver Format Form Make My Chicago Title Waiver Format Online

Fill Out Your Chicago Title Waiver Format Form

The Chicago Title Waiver Format form serves as a legal document that allows contractors and suppliers to waive their right to place a lien on a property for unpaid work or materials. This waiver is essential in the construction industry, as it provides assurance to property owners that they will not face claims against their property for unpaid services. By completing this form, the undersigned acknowledges receipt of payment and affirms that all obligations related to the work have been satisfied.

Form 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

Misconceptions

Misconceptions about the Chicago Title Waiver Format form can lead to confusion regarding its purpose and use. Below are five common misconceptions along with clarifications.

  • It is only for contractors. Many believe that the waiver form is exclusively for contractors. In reality, it can be utilized by any party providing labor or materials for a construction project, including subcontractors and suppliers.
  • Signing the waiver means giving up all rights. Some individuals think that signing the waiver relinquishes all rights to future claims. However, the waiver only pertains to the specific work and materials referenced in the document. Future claims related to different projects or services remain intact.
  • It guarantees payment for services rendered. A common misconception is that the waiver ensures payment for all services provided. The waiver does not guarantee payment; rather, it serves as a declaration that the undersigned has received payment up to the date of signing.
  • It is a complex legal document. Many assume that the waiver is overly complicated and requires legal expertise to understand. In fact, the form is straightforward and designed for clarity, making it accessible for those involved in construction projects.
  • All waivers are the same. Some people believe that all lien waivers are interchangeable. However, different types of waivers exist, each serving distinct purposes. The Chicago Title Waiver Format is specifically tailored for use within Illinois and may differ from waivers used in other jurisdictions.

Key takeaways

Here are some key takeaways regarding the Chicago Title Waiver Format form:

  • The form is essential for waiving any lien claims related to construction work on a property in Illinois.
  • It requires the completion of specific fields, including the company name, property address, and the total amount of the contract.
  • Both the undersigned and the contractor must provide accurate information to ensure the validity of the waiver.
  • All parties involved in the project must be listed, including their names, addresses, and the amounts due.
  • Extras, such as change orders, must be clearly defined and included in the total contract price.
  • The form must be signed and dated to be legally binding; it also requires notarization.
  • It is crucial to ensure that there are no outstanding contracts or claims related to the work to avoid any future disputes.

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