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The document is a Notice of Transfer and Release of Liability form from the California Department of Motor Vehicles (DMV). It outlines the necessary steps for sellers to release their liability when transferring ownership of a vehicle or vessel. The form must be completed accurately and submitted within five days of the transaction, either online or by mail. It emphasizes the importance of providing correct information to ensure that liability for any violations after the sale is transferred to the new owner.

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What is an example of a release of liability clause?

I, [Name of Releaser], hereby release and discharge [Name of Releasee], from any and all liability, claims, demands, or causes of action that may hereafter have for injuries or damages arising out of my participation in the [Activity], including but not limited to losses caused by the negligence of the released parties

What is a reg 138 form?

11.125 Notice of Transfer and Release of Liability (NRL/IRL) (REG 138) (VC 5602 and 5900) The registered owner or the person in physical possession of a vehicle being sold/transferred must submit a completed REG 138 (PDF) to DMV within five calendar days of the sale (transfer).

What is a formal release of liability?

A release of liability, also known as a liability waiver or a hold harmless agreement, is a contract in which one party agrees not to hold another party liable for damages or injury.

What happens if you dont fill out the Release of liability?

Legality aside, failure to submit a Release of Liability document on time can result in the seller being held accountable for traffic violations, parking tickets, and unpaid toll fees accumulated by the new owner.

How to fill out DMV Statement of Facts form?

How to fill out the California DMV Statement of Facts Vehicle Transfer? Read through the entire form before starting. Fill out all sections completely and accurately. Review the information for any errors or omissions. Sign the form where indicated. Submit the completed form to the DMV.

138 form

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How do I write a letter of Release of liability?

What to Include in a Release of Liability Form Releasor: Full name of the releasor. Releasee: Full name of the releasee. Effective date: The date the waiver takes effect. Incident: Details of the injury, debt, or accident. Compensation: The total that must be paid in exchange for signing the waiver.

Do release of liability forms need to be notarized?

Its very important that when anyone settles out of court with anybody over money, a claim, or a dispute, that the other party sign a general release of liability with a notarized document.

How can I write a strong liability waiver?

That said, a valid liability waiver should at least include the following details: Introductory or cautionary statement. A detailed account of the inherent dangers. Assumption of risks. Release clause. Indemnification. Choice of law. A confirmation and signature section.

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