How Can I Assure a Landlord That He Won't Be Sued for My Actions?
Full Question:
Answer:
A hold harmless agreement is one in which one person agrees to assume the liability and risk that may arise from the obligation, and protects and indemnifies the other party against having to bear any loss. An indemnification or hold harmless agreement allows the other party to the contract to be reimbursed against loss or damage.
A waiver or release gives up a right, such as releasing one from his/her liability for harm or damage that may occur from performing under a contract, or participating in an activity. It is generally not effective to protect a person from liability for intentional acts or gross negligence.
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The following are TX statutes:
§ 72.101 PROP. PROP. Personal Property Presumed
Abandoned
(a) Except as provided by this section and Sections 72.1015, 72.1016,
and 72.102, personal property is presumed abandoned if, for longer than
three years:
(1) the existence and location of the owner of the property is unknown
to the holder of the property; and
(2) according to the knowledge and records of the holder of the
property, a claim to the property has not been asserted or an act of
ownership of the property has not been exercised.
(b)
(1) The three-year period leading to a presumption of abandonment of
stock or another intangible ownership interest in a business
association, the existence of which is evidenced by records available to
the association, commences on the first date that either a sum payable as
a result of the ownership interest is unclaimed by the owner or a
communication to the owner is returned undelivered by the United States
Postal Service.
(2) The running of the three-year period of abandonment ceases
immediately on the exercise of an act of ownership interest or sum
payable or a communication with the association as evidenced by a
memorandum or other record on file with the association or its agents.
(3) At the time an ownership is presumed abandoned under this section,
any sum then held for interest or owing to the owner as a result of the
interest and not previously presumed abandoned is presumed abandoned.
(4) Any stock or other intangible ownership interest enrolled in a plan
that provides for the automatic reinvestment of dividends,
distributions, or other sums payable as a result of the ownership
interest is subject to the presumption of abandonment as provided by this
section.
(c) Property distributable in the course of a demutualization or
related reorganization of an insurance company is presumed abandoned on
the first anniversary of the date the property becomes distributable if,
at the time of the first distribution, the last known address of the
owner according to the records of the holder of the property is known to
be incorrect or the distribution or statements related to the
distribution are returned by the post office as undeliverable and the
owner has not:
(1) communicated in writing with the holder of the property or the
holder's agent regarding the interest; or
(2) otherwise communicated with the holder regarding the interest as
evidenced by a memorandum or other record on file with the holder or its
agents.
(d) Property distributable in the course of a demutualization or
related reorganization of an insurance company that is not subject to
Subsection (c) is presumed abandoned as otherwise provided by this
section.
§ 72.103 PROP. PROP. Preservation of Property
Notwithstanding any other provision of this title except a provision of
this section or Section 72.1016 relating to a money order or a stored
value card, a holder of abandoned property shall preserve the property
and may not at any time, by any procedure, including a deduction for
service, maintenance, or other charge, transfer or convert to the profits
or assets of the holder or otherwise reduce the value of the property.
For purposes of this section, value is determined as of the date of the
last transaction or contact concerning the property, except that in the
case of a money order, value is determined as of the date the property is
presumed abandoned under Section 72.102(c). If a holder imposes service,
maintenance, or other charges on a money order prior to the time of
presumed abandonment, such charges may not exceed the amount of 50 cents
per month for each month the money order remains uncashed prior to the
month in which the money order is presumed abandoned.
