Release Used In A Sentence

• Category: Real Estate - Releases and Waivers
• State: Multi-State
• Control #: US-01689BG
• Format: Word; Rich Text

Description

The Release of Donor or Real Property, Waiver of Liability, and Promise to Indemnify is a legal document designed to facilitate the donation of property from a donor to a nonprofit organization (the donee). In this form, the donee releases the donor from all liability related to any property damage or personal injury that may occur as a result of the property's future use or ownership, stating that the property is accepted "as is" without warranties or representations. This document serves as a crucial tool for attorneys, partners, owners, associates, paralegals, and legal assistants involved in property donation processes, ensuring that all parties are aware of their rights and responsibilities. Key features include the explicit waiver of liability, an indemnification clause to protect the donor from potential claims, and a detailed acknowledgment of the property's condition. When filling out the form, users must provide specific information about the donor, donee, and the property being donated, including its legal description. It is essential to understand that the donee has the opportunity to inspect the property before accepting the donation. This release form is particularly useful in charitable contexts where liability concerns may otherwise complicate property transfers.