A liability waiver is a legal document in which one party agrees to release another party from certain claims or liabilities. Essentially, it is a contractual arrangement where one party relinquishes the right to hold the other party responsible for certain acts or omissions.
Liability waivers are commonly used in various activities and services where there is a risk of injury or damage. Service providers, such as real estate companies, may include liability waivers in their contracts to limit their liability for certain outcomes or unexpected events. Waivers for real estate transactions may include; Inspection Waivers, a Survey Waiver, Warranty Waivers or a Hold Harmless for any system that doesn’t pass a certain standard of inspection.
It’s important to note that while liability waivers are commonly used, their enforceability can vary depending on jurisdiction and the specific circumstances surrounding the agreement. In some cases, certain rights cannot be waived, and in other cases, courts may scrutinize the waiver to ensure that it is clear, unambiguous, and not against public policy.
