What makes lien waivers unfair?
from By Scott Wolfe
A few years ago, a Texas contractor got a $20 million judgment against a property owner who was withholding payment. Shortly thereafter, an appeals court unpinned the judgment and awarded $10 million to the property owner for reimbursed attorney fees. What happened? The contractor in this story, Zachry Construction, got burned by a lien waiver. They signed a waiver of their lien rights in exchange for a payment, and that waiver included a release of any and all claims — including the $20 million claim for work subject to a change order dispute.
7701 Las Colinas Blvd., Ste. 800, Irving, TX 75063