What is a Release in a Settlement?

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When it comes to your North Carolina personal injury settlement, a release is a binding contract that states that you agree to settle your case in exchange for the money amount that is in the settlement. It is an important document to you as a personal injury victim because generally, you won’t be able to cash your settlement check until the release has been executed, signed, and given back to the other party’s insurance company.

A settlement release (also known as a release of claim form or a liability waiver form) works impacts your legal options and is an important thing to fully understand before signing. Be sure to discuss your case in depth with an experienced personal injury attorney before signing anything or agreeing to settle. A Tatum & Atkinson attorney is available to explain what you can do specifically in your situation. Contact us for a free consultation.

Release of All Claims

As previously mentioned, a release of claims form is a binding contract that releases the other party from liability. In simple terms, this means that you let go of any claims that you have against them and that you cannot collect anything more than the amount of the settlement agreement.

The release form should generally include the following information about your claim:

  • The identity of the parties involved
  • The specific details of the accident (the date and the location)
  • Your specific claims (physical injuries, emotional damages, property damage)
  • The details of payment
  • The governing law and enforceability of the agreement

What You Should Know Before You Sign a North Carolina Release in a Settlement Agreement

  • Have your attorney examine the document before you sign to ensure that all your damages have been included.
  • If something is missing or if you’re still being treated for your injury, then wait to sign.
  • After the document is signed, you can’t make additional claims and you will be responsible for your additional medical treatment costs.
  • If you don’t agree to the settlement offer (for any reason), then don’t sign the release.

What’s Included: Elements of a Release Form

Depending on the specifics of your case and the attorney involved, the release will vary. It could be a page long or 10 pages long but, most likely it will include the following:

  • Identifying the parties: The releasor is the injured party and the releasee is the at-fault party.
  • Releasing the obligation to pay: This section of the agreement stipulates that you won’t receive any further payments from the other party.
  • Surrendering the right to sue: Here, the agreement states that you are giving up your right to sue the other party (and their insurance company) by signing the release.
  • Non-admission of fault: This section of the document provides that no party is admitting to fault. It does not affect the settlement amount, but rather it simply states that the parties do not blame each other.

Contact a NC Personal Injury Lawyer Before You Sign a Release

A personal injury settlement release is final. Once it is signed, you can’t make any other claims or make changes. That’s why you should have a skilled lawyer look at it before you sign. Just get in touch with us at Tatum & Atkinson and one of our knowledgeable attorneys will be pleased to assist you with your personal injury matters. Contact us today for a no-obligation free consultation.

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