Releasor

A **releasor** is the party who executes a release, relinquishing a claim, right, or interest in something, usually in exchange for something else, such as money or a promise. This legal term signifies the individual or entity voluntarily giving up a claim, right, or interest. The **releasor** effectively absolves another party, the releasee, from any further liability or responsibility concerning the subject matter of the release. The document they sign, the release, acts as the binding agreement. The specifics depend on the situation, but the fundamental aspect is the act of giving up one's right or claim by the **releasor**. This action must be voluntary, informed, and typically involves consideration, creating a legally sound agreement that shields the releasee from future litigation or demands. The validity and enforceability of a release are important factors.

Releasor meaning with examples

• Following the car accident, Sarah, the releasor, signed a release, accepting a settlement from the insurance company. This relieved the other driver of further liability. Her signature on the document was the agreement which finalized her actions. The release detailed the extent of the damage claims and the amount agreed to be paid to her.
• The construction company, acting as the releasor, provided a lien release after receiving full payment from the homeowner. This step cleared the property title of any potential claims against the construction. They could no longer pursue payment under such agreements, as per the release. The agreement effectively freed the homeowner.
• In a business dispute, the company, as the releasor, signed a release, dropping its lawsuit against the former partner in exchange for intellectual property rights. They signed the release to resolve a series of lawsuits to which they had been a party. The releasor thus ended the lawsuits to find better results.
• During a divorce proceeding, the wife, the releasor, signed a release, waiving her claim to the husband's retirement account, as part of the property settlement agreement. The wife effectively stopped future lawsuits to make a claim on her husband. Her signature was her act of giving up claim for cash.