Nevada Lien Waiver Overview
Nevada Lien Waiver Rules
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Specific Form Required
Nevada requires that specific forms be used in order for a lien waiver to be valid.
Notarization Not Required
Nevada does not require that lien waivers be notarized.
Can Waive Rights in Contract
It is unclear, and Nevada law appears to be conflicting, but it appears that lien rights may be waived in advance if the waiver follows the required form.
Can Waive Rights Before Payment
Nevada does not prohibit waiving lien rights prior to payment if the lien waiver follows the required form.
Nevada lien waivers (also sometimes called lien releases) are regulated. This is great news for contractors, subcontractors, suppliers, lenders, and anyone else on a Nevada construction project. Since Nevada is just one of 12 states that provide statutory lien waiver forms construction participants can be more sure of what the documents they are requesting and providing actually do and say. Being required to deal with only certain acceptable waiver forms may seem like a hassle, but the truth is that not having lien waiver rules is a bigger headache.
Lien waivers are pretty complex documents. But, since they are ubiquitous and exchanged all the time on construction projects, they are also unassuming. A lien waiver works as a receipt for payment has been made (or promised) for work or materials on a job. These documents are exchanged at the time of payment, and commonly attached to subcontractor pay applications or vendor invoices.
There are different types of lien releases for different types of situations. And these documents have significant consequences for everyone on a job – they are oftentimes the last document standing between a construction participant and the cash they are owed for performing work. This is why companie spull their hair out trying to find better ways of sending, requesting, tracking, and collecting lien waivers is an administrative pain that slows down the payment process.
Knowing everything you can about lien waivers will allow you to make your process faster. And if your process is faster, your cash will move faster. And that will be good for everyone.
As mentioned above, Nevada provides Lien Waiver Templates in its statutory law, and these forms must be used by everybody in order for the lien waivers to be valid. However, Nevada also allows construction participants to waive lien rights prior to work and/or receiving payment. So, it’s important to pay attention to contracts for work, and make sure that your rights are protected.