Legal Question in Real Estate Law in Michigan

My house is in the final stages of foreclosure and I was given the option for "cask for keys". This is an excerpt from the contract they would like me to sign - could you explain this statement in layman's terms?
Occupant does hereby release and forever discharge PHH and the Property Owner, and their respective officers, directors, shareholders, partners, attorneys, predecessors, successors, representatives, insurers, assignees, agents, employees and all persons acting by, through or in any way on behalf of PHH and/or the Property Owner (collectively the �PHH Releasees�), of and from any and all claims, debts, defenses, liabilities, costs, attorneys fees, actions, suits at law or equity, demands, contracts, expenses, damages, whether general, specific or punitive, exemplary, contractual or extra-contractual, and causes of action of any kind or nature that Occupant may now have or claim to have against the PHH Releasees, including without limitation all claims or causes of action which in any way, directly or indirectly, or in any other way arise from or are connected with or which could have been asserted in connection with the Property or Occupant�s occupancy or use thereof; and Occupant further covenants and agrees that this Agreement may be pleaded or asserted by or on behalf of the PHH Releasees as a defense and complete bar to any action or claim that may be brought against or involving the PHH Releasees by anyone acting or purporting to act on behalf of Occupant with respect to any of the matters within the scope of this Agreement excepting only the obligations of the Parties under this Agreement. This full and final release shall cover and shall include and does cover and does include any and all known or future damages not now known to any of the Parties hereto, but which may later develop or be discovered, including the effects and consequences thereof, and including all causes of action therefore which arise out of any of the matters within the scope of this Agreement excepting only the obligations of the Parties under this Agreement.

Asked on 5/21/13, 5:50 am

Timothy Klisz Klisz Law Office, PLLC

0 users found helpful

0 attorneys agreed

If you take their cash, you can't sue them later. Its a simple release.

Answered on 5/21/13, 7:16 am

Keywords

Match Any Match All

Country

State

Area of Law