How To Use
This review list is provided to inform you about this document in question and assist you in its preparation. Releases are a smart to execute at the conclusion of any agreement or legal relationship. It serves to “release” or “discharge” the parties from any liabilities in the present or past to each other. In a sense, it seals off the past from dispute. Get them whenever possible. I have sought to get them from authors, creditors, suppliers, lenders, and even my ex-wife when the payment part of my divorce agreement ended. To those who have been divorced, it should be no surprise that the only party not to give me a release was my ex-wife and that, if anything, should indicate why one will find these useful, to end things conclusively.
Some practical reasons for these agreements: estate planning purposes; sales or financing of companies; peace of mind in general.
- Make multiple copies. Give one to each signatory. Keep one with the transaction file.
___________________________________ and ______________________________ agree:
WHEREAS, certain disputes and financial transactions have occurred between the parties hereto, and,
WHEREAS, they desire to amicably resolve these disputes and acknowledge the extinguishment of any and all debts, obligations, and liabilities of any kind between the parties,
IT IS AGREED:
That in consideration of this agreement, the parties mutually release one another from all claims of any kind whatsoever from the beginning of time to the date of the execution of this agreement, and that this mutual release shall be valid and binding and insure for the benefit of the heirs, successors and assigns of both parties.
READ THIS INSTRUMENT FULLY AND CAREFULLY PRIOR TO SIGNING. THIS IS A LEGALLY VALID AND BINDING OBLIGATION TO RELEASE PARTIES FROM ALL KNOWN AND UNKNOWN OBLIGATIONS. THIS INSTRUMENT AFFECTS IMPORTANT LEGAL RIGHTS. THINK CAREFULLY AND CONSIDER OBTAINING LEGAL ADVICE PRIOR TO SIGNING