Release and Waiver of Liability (Real Property)

by Practical Law Real Estate

A Standard Document providing a release and waiver of liability for visitors entering commercial real property. This resource is designed to protect a property owner from liability for claims of illness, injury, or death that may arise from a visitor's presence. The agreement includes a covenant not to sue and offers optional assumption of risk and indemnification provisions to further shield the owner. This Standard Document addresses claims stemming from the property owner's ordinary negligence, as most states prohibit waiving liability for gross negligence or willful misconduct. This Standard Document is useful for various scenarios, including property tours, due diligence, or inspections. While liability waivers are generally governed by state law, this jurisdictionally neutral template is useful and relevant in every state. This Standard Document has integrated notes with important explanatory and drafting tips.