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The tutorial discusses the importance of "releases," which are legal documents that protect a party from future liability claims. A release indicates that a person waives their right to make any legal claims against another party after a dispute is settled. This is particularly crucial in scenarios such as landlord-tenant disputes over rent or security deposits. Without a signed release, a tenant can potentially raise new claims later, even years afterward, due to the statute of limitations. Therefore, it is recommended to always obtain a release when settling disputes outside of court, regardless of the context.