What a Waiver of Lien Document Really Does

A waiver of lien document is a term you might hear buzzing around the construction and real estate sectors. But what does it really accomplish? Picture this: you’re a contractor who just completed a splendid job, but the payment is still hanging in the air like a lingering scent. You know what? Here’s the twist—by signing a waiver of lien document, you’re essentially giving up the right to chase after that payment. Sounds a bit counterintuitive, right? Yet, this very act is crucial for smooth sailing in the murky waters of payment disputes.