Document background
The Waiver and Release of Lien is a critical document in Australian construction and property development, used when a party who has provided work, services, or materials wishes to formally release their security interest in a property. This document is particularly important for property owners, developers, and contractors as it helps maintain clear property titles and facilitates project completion and payment processes. It must comply with both federal legislation such as the Personal Property Securities Act 2009 and state-specific building and construction laws. The document typically includes details of the property, the work performed, payment acknowledgment, and explicit waiver language. It can be used for both partial releases (such as progress payments) or final releases upon project completion. The waiver may be conditional (pending payment) or unconditional, depending on the circumstances and agreement between parties.
