fallentemplar
Junior Member
What is the name of your state (only U.S. law)? California
I signed a contract with:
In consideration of the sum of $XXXXX paid, receipt whereof is hereby acknowledged, and other benefits accruing to us, and in order to produce the making of one or more loans on said real estate, as improved, we do hereby waive, release and quit-claim in favor of each and every party making a loan on said real estate, as improved, and his or its successors and assigns, all right that we, or any of us, may now or hereafter have to a lien upon the land and improvements above described, by virtue of the laws of the state wherein said land is situated, or any amendments of said laws; and we do further warrant that we have not and will not assign our claims for payment, nor our right to perfect a lien against said property, and that we have the right to execute this waiver and release thereof.
Could someone help me decipher what it means? Does it mean a lien cannot be placed on this property EVER? or just after that payment?
Thanks!
I signed a contract with:
In consideration of the sum of $XXXXX paid, receipt whereof is hereby acknowledged, and other benefits accruing to us, and in order to produce the making of one or more loans on said real estate, as improved, we do hereby waive, release and quit-claim in favor of each and every party making a loan on said real estate, as improved, and his or its successors and assigns, all right that we, or any of us, may now or hereafter have to a lien upon the land and improvements above described, by virtue of the laws of the state wherein said land is situated, or any amendments of said laws; and we do further warrant that we have not and will not assign our claims for payment, nor our right to perfect a lien against said property, and that we have the right to execute this waiver and release thereof.
Could someone help me decipher what it means? Does it mean a lien cannot be placed on this property EVER? or just after that payment?
Thanks!