Legal Definitions - releasor

A releasor is an individual or entity who formally gives up or surrenders a legal right, claim, or interest in property to another party. This act typically involves signing a document, often called a "release," which legally transfers or extinguishes the releasor's entitlement.

Here are some examples to illustrate this concept:

• Imagine a situation where a pedestrian is injured in a minor car accident. After negotiations, the driver's insurance company offers a settlement payment. If the pedestrian accepts the payment and signs a document agreeing not to sue the driver for further damages related to that accident, the pedestrian is the releasor. They are formally giving up their legal claim to pursue a lawsuit against the driver in exchange for the settlement.

• Consider a scenario where a tenant is moving out of an apartment and has paid a security deposit. The landlord finds some minor damage and proposes to deduct a portion of the deposit for repairs. If the tenant agrees to this deduction and signs a form acknowledging they will not dispute the amount withheld, the tenant acts as the releasor. They are releasing their claim to the full security deposit amount.

• Suppose a family owns a piece of land with a shared driveway. One family member decides they no longer wish to be responsible for the maintenance and upkeep of the driveway and formally signs a legal document transferring their right and obligation for the driveway to another family member. In this instance, the family member who signs away their interest is the releasor, as they are giving up their property interest and associated responsibilities.