Collin Texas Hold Harmless Agreement for Real Estate

State:
Multi-State
County:
Collin
Control #:
US-01708-AZ-4
Format:
Word; 
Rich Text
Instant download

Description

This form is a Hold Harmless Agreement. The form provides that the agreement is mutual and each party holds the other harmless and releases the other from all liability arising from the activity involved.
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FAQ

A hold harmless clause is also called a release of liability, a waiver of liability, a save harmless clause, or a hold harmless letter or release. These agreements are usually seen in leases, contracts, and easements, in an attempt to protect either one party or both.

The hold harmless agreement in real estate is a contract that transfers all property liability from the seller to the buyer. The hold harmless clause can be negotiated directly between the two parties and might even involve a closing agent who is looking to protect him/herself from future liability.

A hold harmless agreement protects business owners from being sued when someone suffers damage, bodily injury, or financial loss on business property or while a service is being provided.

A hold harmless agreement filed in Texas could apply to both parties in a contract or simply apply to one. This contract clause is often used in construction contracts as a way to release one of the involved parties from any liabilities or consequences that result from the actions of the other party.

How to Fill Out a Hold Harmless Agreement The date of the agreement. The name of the person held harmless or protected, with their address. The name of the other party to the agreement, with their address. Details about the activity or event the agreement is about, such as horseback riding or country club membership.

Examples of Hold Harmless Clauses An apartment lease may have a hold harmless clause stating that the landlord is not responsible for any damage caused by the tenant. A homeowner hiring a roofer might request a hold harmless clause to protect against a lawsuit if the roofer falls off the roof.

A hold harmless clause is used as a release of liability in a contract that protects one party from injury or property damage caused by another party. By signing the clause, the other party is agreeing not to hold business owners legally responsible for the risks involved in certain services.

Examples of Hold Harmless in a sentence Resolved, that the Board of Education hereby approves the attached Hold Harmless Agreement Form between the District and the Village of Valley Stream and hereby authorizes the Board President to execute same.

Legal Definition of hold harmless : of, relating to, or being an agreement between parties in which one assumes the potential liability for injury that may arise from a situation and thus relieves the other of liability a hold harmless agreement a hold harmless clause compare release.

A hold harmless agreement (or harmless agreement) is a legally binding agreement stating that one party will not hold the other party responsible (or liable) for the risk of physical or property damage.

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Collin Texas Hold Harmless Agreement for Real Estate