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(April 2008) In the mechanics lien process, a lien waiver is a document from a contractor, subcontractor, materials supplier, equipment lessor or other party to the construction project (the claimant) stating they have received payment and waive any future lien rights to the property (of the owner) for the amount paid.
An unconditional waiver is basically a waiver of all present and future legal rights. Such a waiver is most often utilized in the construction context by homeowners or professional construction companies wanting to protect themselves from mechanics' liens.