Assumption, retention, and releases provisions

{
  "id": "MLC-T-ENV-002297",
  "term": "Assumption, retention, and releases provisions",
  "field": "Environment",
  "term_source": "Assumption, Retention, and Releases Provisions",
  "definition": "A risk allocation tool used in property transactions wherein the buyer accepts or seller retains, responsibility for known or unknown environmental conditions and releases the other party from liability for current and future claims arising from the specified conditions.",
  "subject": "Land, waste and cleanup",
  "references": [
    "Environmental Insurance and Risk Management Tools Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/assumption-retention-and-releases-provisions/"
}