# Relinquished Property Agreement
**This Relinquished Property Agreement (the "Agreement") is made and entered into as of [Date], by and between [Owner's Full Name] (the "Owner"), residing at [Owner's Address], and [Recipient's Full Name] (the "Recipient"), residing at [Recipient's Address].**
## 1. **Recitals**
1.1 The Owner is the legal holder of the property located at [Property Address], described as follows: [Legal Description of the Property] (the "Property").
1.2 The Owner desires to relinquish all rights, titles, and interests in the Property to the Recipient.
1.3 The Recipient accepts the relinquishment of the Property from the Owner.
## 2. **Relinquishment of Property**
2.1 The Owner hereby relinquishes, transfers, and assigns all rights, title, and interest in the Property to the Recipient free and clear of any liens, encumbrances, or claims.
2.2 The relinquishment shall include all improvements, fixtures, and appurtenances located on or associated with the Property.
## 3. **Consideration**
3.1 In consideration for the relinquishment of the Property, the Recipient shall pay the Owner the sum of [Amount in Dollars] (the "Consideration").
3.2 Payment shall be made in full on or before [Due Date].
## 4. **Representations and Warranties**
4.1 The Owner represents and warrants that:
- (a) The Owner is the sole owner of the Property and has the right to relinquish the Property.
- (b) There are no existing liens, liens, or any legal actions pending against the Property.
4.2 The Recipient acknowledges that they have had the opportunity to inspect the Property and accepts it in its current condition.
## 5. **Indemnification**
5.1 The Recipient agrees to indemnify and hold harmless the Owner from any and all claims, damages, or liabilities related to the Property after the date of this Agreement.
## 6. **Governing Law**
6.1 This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
## 7. **Miscellaneous**
7.1 This Agreement constitutes the entire understanding between the Parties and may not be amended or modified except in writing signed by both Parties.
7.2 If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions shall continue to be valid and enforceable.
7.3 This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
## IN WITNESS WHEREOF, the Parties have executed this Relinquished Property Agreement as of the date first above written.
_____________________________
**[Owner's Full Name]**
Owner
_____________________________
**[Recipient's Full Name]**
Recipient
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**Notary Public** (if applicable)
State of [State]
County of [County]
Subscribed and sworn to before me this ____ day of __________, 20__.
_____________________________
Notary Public
My commission expires: __________
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*Note: It is advisable to consult with a legal professional to ensure compliance with local laws and regulations before executing any legal document.*