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In this tutorial, the speaker discusses the importance of legal releases for business people and others. A release is a document signed to waive any future claims against another party, effectively releasing them from liability. The speaker illustrates its significance with an example involving a tenant dispute over rent or a security deposit that is resolved without court involvement. If a release is not obtained, the tenant may later come back with new claims, potentially years later, due to the statute of limitations. The recommendation is to always secure a release when settling disputes outside of court, whether with a tenant or a buyer.