Unconditional Lien Waiver and Release on Progress Payment (Mechanic's Lien) (Texas)

This legal template pertains to a document known as the "Unconditional Lien Waiver and Release on Progress Payment (Mechanic's Lien) (Texas)." It is a legally binding form applicable to construction projects in the state of Texas.

The purpose of this template is to facilitate the release of a mechanic's lien, also referred to as a construction lien, which is a legal claim against a property typically filed by a contractor, subcontractor, or supplier. Mechanic's liens are often used to secure payment for labor or materials provided during a construction project.

In this context, the "Unconditional Lien Waiver and Release on Progress Payment" document enables the contractor or subcontractor to waive and release their rights to file a mechanic's lien against the property owner for a specific progress payment. By signing this template, the contractor or subcontractor acknowledges receipt of the progress payment and agrees not to assert a claim against the property owner's property for any unpaid amounts related to the specific payment described.

It is important to note that this waiver is considered unconditional, meaning that once signed and delivered, it cannot be reversed or contested. Therefore, the template is designed to protect the property owner and serve as evidence that the contractor or subcontractor has waived their right to file a mechanic's lien up until the date the waiver was executed.

This legal template ensures compliance with the relevant Texas laws and regulations related to mechanic's liens and serves as a vital component in documenting the progress of a construction project, protecting the interests of both the property owner and the contractor or subcontractor.