What is the main purpose of a Release of Liability?

The main purpose of a Release of Liability is to protect the seller from liability due to actions taken by the new owner after the sale is completed. This legal document acknowledges that the seller is no longer responsible for any potential claims or incidents that may arise once the ownership has been transferred. By signing a Release of Liability, the new owner assumes all responsibilities and liabilities associated with the property or vehicle. This is critical in scenarios where the seller wants to ensure they are not held accountable for future issues or damages that may occur under the new owner's use. This aspect is particularly important in transactions involving vehicles or real estate, where liability concerns can have significant financial implications for the seller.

Other choices focus on different aspects of the selling process or ownership transfer. However, they do not address the primary intent behind a Release of Liability, which is specifically about protecting the seller from future liability.