- A legal document that is used by individuals or firms that have lien rights who wish to waive those rights. The waiver must be signed by those holding rights in order for it to be legal.
relinquishment of a lien, surrender of a lien, lien surrender
Related Terms and Acronyms
- Contractual Lien — Definition,
- A legal claim against property as a result of a voluntary contract, such as a mortgage.
- Lien — Definition,
- A legal hold or claim of a creditor on the property of another.
- Waiver — Definition,
- The intentional and voluntary renunciation, abandonment, or surrender of some claim, right, or privilege.
- Waiver of Restoration Premium — Definition,
- A provision that frees an insurance policyholder from needing to pay a fee in order to resume coverage after a claim.