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Homepage ➨ Fillable Chicago Title Waiver Format Template
Content Overview

File Details

Fact Name Description
Purpose The Chicago Title Waiver Format form is used to waive any lien rights related to labor or materials provided for a property in Illinois.
Governing Law This form is governed by the mechanics' lien statutes of the State of Illinois.
Consideration The undersigned must acknowledge receipt of a specified amount in dollars as consideration for the waiver.
Extras Definition Extras include change orders, both oral and written, that modify the original contract.
Affidavit Requirement A contractor's affidavit must accompany the waiver, confirming the accuracy of the information provided and the absence of outstanding claims.

Sample - Chicago Title Waiver Format Form

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

Common mistakes

When filling out the Chicago Title Waiver Format form, individuals often make several common mistakes that can lead to complications. One significant error is failing to accurately complete the company name section. This information must match the legal name of the entity involved in the contract. Inaccuracies can result in the waiver being deemed invalid.

Another frequent mistake is neglecting to specify the correct premises address. The waiver should clearly identify the property for which the lien is being waived. Omitting this detail or providing an incorrect address can create confusion and potential legal issues down the line.

Many people also overlook the amount of consideration being waived. It is essential to state the dollar amount clearly. Without this information, the waiver may not be enforceable, as it lacks a critical element of the agreement.

Additionally, individuals sometimes forget to include extras in their calculations. Extras can include change orders or additional work that was agreed upon. Failing to account for these can lead to disputes regarding payment and the scope of work completed.

Signature errors are also common. Individuals may forget to sign the form or may not provide their title alongside their signature. This omission can raise questions about the authority of the signer and the validity of the waiver.

Another mistake involves the contractor’s affidavit. It is crucial to ensure that all required information is filled out completely. Missing details, such as the total amount of the contract or the amounts paid, can undermine the affidavit's integrity.

Lastly, failing to have the document notarized correctly can invalidate the waiver. Notarization is a critical step that confirms the identity of the signers and verifies that they signed the document willingly. Skipping this step can lead to challenges in enforcing the waiver.

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