Core terms

Lien Waiver

Core terms · definition

A signed document in which a contractor or supplier gives up the right to file a lien for a given payment. Collect lien waivers with each payment to protect against double-payment claims.

Source: Investopedia — Lien Waiver

  • Contract

    The legally binding agreement between owner and contractor that defines scope, price, schedule, and responsibilities. A remodel should ne…

  • Lien

    A legal claim against your property for unpaid work or materials. A mechanic's lien filed by an unpaid subcontractor can cloud your title…

  • Liquidated Damages

    A pre-agreed dollar amount the contractor owes the owner for each day a project runs past the contracted completion date. Must be a reaso…

  • Knee Wall

    A short wall, typically under a sloped roof or supporting a counter or railing, that is less than full ceiling height.

  • Load-Bearing Wall

    A wall that carries weight from the structure above down to the foundation. Removing or opening one requires an engineered beam and posts…

  • Joist

    One of the repetitive horizontal members that support a floor or ceiling, spanning between beams or walls. Joist size, spacing, and direc…

  • Mortar

    A cement-based paste used to bond masonry or, as thinset, to adhere tile to a substrate. Different mixes are rated for different applicat…

  • Insulation

    Material that resists heat flow, rated by R-value, installed in walls, ceilings, and floors. Opened walls are the opportunity to upgrade…

Where this term fits in a remodel

The pillar guides set terms like this one in context — what the work involves, what drives its cost, and where it sits in the sequence of a project. Pricing a specific house takes a defined scope and an on-site assessment.

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