Business
Liability Waiver
Texas
Is a liability waiver binding on heirs?
I recently inherited a business from a family member and I am looking to create a liability waiver for the business. I want to make sure that the waiver is binding on the heirs of the business in the event that the business is passed down. I want to make sure that any potential liabilities are not passed on to future generations of the family.
1 Attorney answer
Answer
Business
Texas
J.R. S.
ContractsCounsel verified
A liability waiver can indeed be binding on heirs if the language of the waiver expressly includes heirs or assigns. However, the binding nature of a waiver on heirs could be affected by several factors. Administrative regulations such as 1 TAC § 373.209 and statutes like V.T.C.A., Civil Practice & Remedies Code § 71.021 and V.T.C.A., Special Districts Code § 8502.020 stipulate conditions under which heirs can assert claims, which could potentially affect the binding nature of a waiver on heirs. Finally, the enforceability of such waivers can be influenced by whether the instrument is recorded or not, as per V.T.C.A., Property Code § 13.001. In summary, while a liability waiver can be binding on heirs, the enforceability of such waivers can be influenced by various factors, including the specific language of the waiver, the termination of the contract, administrative regulations or statutes, and whether the instrument is recorded or not. I recommend having a discussion with an attorney and have them draft the language to achieve your goal.
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