Legal Relinquishment Document

LEGAL RELINQUISHMENT DOCUMENT

This Legal Relinquishment Document is made and entered into as of Month Day Year (Effective Date) by and between Relinquisher Name: and Recipient Name: .

RECITALS

WHEREAS, Relinquisher asserts certain rights, title, interests or claims described herein and desires to relinquish those rights as set forth in this document; and

WHEREAS, Recipient desires to accept the relinquishment of those rights, and both parties intend by this instrument to effect a final, binding relinquishment, release and transfer of the specified interests in accordance with the terms and conditions stated below; and

WHEREAS, the parties acknowledge receipt of consideration recited below and agree that this instrument shall operate as a full and final relinquishment of the rights specifically identified herein.

NOW THEREFORE, in consideration of the mutual covenants, representations and other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

For purposes of this document, the following terms shall have the meanings set forth below: "Relinquishment" means the voluntary, irrevocable surrender and termination of the rights, title, interest or claims specified in Section 2. "Effective Date" means the date set forth above. "Parties" means Relinquisher and Recipient.

2. RELINQUISHMENT

Relinquisher hereby irrevocably relinquishes, transfers and conveys to Recipient all right, title, interest and claims of any nature that Relinquisher has or may claim to have, whether known or unknown, in the items, categories or causes identified below. The relinquishment is absolute, unconditional and effective as of the Effective Date.

Indicate the types of interest being relinquished (check all that apply):
Real property, including easements, leases and title Personal property, tangible goods Intellectual property, copyrights, trademarks Contractual rights and assignments Claims, causes of action, demands Other (describe)

3. CONSIDERATION

In consideration for the relinquishment specified herein, Recipient shall provide the following to Relinquisher:

4. REPRESENTATIONS AND WARRANTIES

Relinquisher represents and warrants to Recipient that: (a) Relinquisher has full legal capacity and authority to execute and deliver this document and to perform its obligations hereunder; (b) Relinquisher is the lawful owner of the rights, title and interest being relinquished and has good and marketable title free and clear of all liens, encumbrances, claims or adverse interests except as expressly disclosed in writing to Recipient prior to the Effective Date; and (c) the execution and performance of this document do not and will not violate any law, agreement or judicial order binding on Relinquisher.

Recipient represents and warrants to Relinquisher that Recipient has the authority to accept the relinquishment and to receive any rights, title, and interest conveyed under this document.

5. RELEASE; COVENANT NOT TO SUE

Upon the Effective Date and receipt of the agreed consideration, Relinquisher fully and forever releases and discharges Recipient, and Recipient's agents, successors and assigns, from any and all actions, causes of action, suits, debts, claims, demands, obligations, damages, and liabilities of every nature and description, whether known or unknown, which Relinquisher ever had, now has, or may hereafter claim to have against Recipient relating to the rights relinquished under this document. Relinquisher covenants not to commence or prosecute any action or claim against Recipient arising from or related to those relinquished rights.

6. INDEMNIFICATION

Relinquisher shall indemnify, defend and hold harmless Recipient from and against any and all losses, liabilities, claims, damages, costs and expenses (including reasonable attorneys' fees) arising out of any breach of Relinquisher's representations, warranties or covenants contained in this document or arising from any claim by a third party relating to the rights relinquished hereunder.

7. FURTHER ASSURANCES

Each party shall execute and deliver such further instruments and do such further acts as may be reasonably necessary to effectuate the purposes and intent of this document, including but not limited to corrections, acknowledgements, assignments, releases and recordable instruments where applicable.

8. NO LIENS; TITLE

Relinquisher warrants that, except as disclosed in writing, there are no outstanding mortgages, liens, pledges, security interests, or encumbrances affecting the rights relinquished by this document. To the extent applicable, Relinquisher will execute such releases, satisfactions and instruments as are necessary to remove any recorded liens or encumbrances.

9. NOTICES

All notices or communications required or permitted under this document shall be in writing and delivered to the addresses below by hand delivery, certified mail, or overnight courier, and shall be effective upon receipt.

10. GOVERNING LAW; VENUE

This document shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles. The parties consent to the exclusive jurisdiction and venue of the courts located within that state for any dispute arising under or related to this document.

11. ENTIRE AGREEMENT; SEVERABILITY

This document, including any exhibits or written disclosures referenced herein, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written. If any provision of this document is held to be invalid, illegal or unenforceable in any respect, the remaining provisions shall remain in full force and effect and shall be construed so as to effect the original intent of the parties insofar as practicable.

12. AMENDMENT; WAIVER; COUNTERPARTS

No amendment or modification of this document shall be effective unless in writing and signed by both parties. Failure or delay by either party to exercise any right shall not operate as a waiver of that right. This document may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

13. CERTIFICATION

Each party certifies and acknowledges that it has read this document, understands its contents, has had an opportunity to obtain independent legal advice, and executes this document voluntarily and with full knowledge of its legal effect.

Sign Now