Notice of Completion means a written notice, signed and verified by the owner or his agent, containing all of the following:

(a) The date of completion. The recital of an erroneous date of completion shall not, however, affect the validity of the notice if the true date of completion is within ten (10) days preceding the date of recording of such notice.

(b) The name and address of the owner.

(c) The nature of the interest or estate of the owner.

(d) A description of the site sufficient for identification and recordation with the Department of Land Management, containing the lot number and street address of the site, if any. If a sufficient legal description of the site is given, the validity of the notice shall not, however, be affected by the fact that the street address recited is erroneous or that such street address is omitted.

(e) The name of the original contractor, if any, or if the notice is given only of completion of a contract for a particular portion of such work of improvement, then the name of the original contractor under such contract, and a general statement of the kind of work done or materials furnished pursuant to such contract.

The Notice of Completion shall be recorded at the Department of Land Management within ten (10) days after such completion. Completion means, in the case of any work of improvement, actual completion of the work of improvement or, in the case of two (2) or more original contracts, each covering a particular portion of the work of improvement, completion of that portion of the work of improvement covered by such separate original contract, or any of the following, which shall be deemed equivalent to a completion: (1) the occupation or use of a work of improvement by the owner, or his agent, accompanied by cessation of labor thereon; (2) the acceptance bythe owner, or his agent, of the work of improvement; or (3) after the commencement of a work of improvement, a cessation of labor thereon for a continuous period of sixty (60) days.

If there is more than one (1) owner, any Notice of Completion signed by less than all of such co-owners shall recite the names and addresses of all of such co-owners; and provided further, that any Notice of Completion signed by a successor in interest shall recite the names and addresses of his transferor or transferors.

Owner means the owner who causes a building, improvement, or structure, to be constructed, altered, or repaired whether the interest or estate of such owner be in fee, as vendee under a contract of purchase, as lessee, or other interest or estate less than the fee. Where such interest or estate is held by two (2) or more persons as joint tenants or tenants in common, any one (1) or more of the cotenants may be deemed to be the owner.