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Affidavit of Quitclaim and Release: Meaning, Purpose, and Sample Form An Affidavit of Quitclaim and Release is a sworn document voluntarily executed by an individual (usually an employee, claimant, or contracting party) to acknowledge receipt of a settlement or compensation and to release the other party from any further claims, demands, or liabilities. This affidavit is widely used in employment termination, settlement agreements, contract disputes, and financial claims. By signing a quitclaim, the affiant affirms that they have received all benefits or entitlements due to them and that they no longer have pending claims against the employer, company, or person involved. However, for a quitclaim to be valid, it must be executed freely, voluntarily, and without coercion. When Is an Affidavit of Quitclaim and Release Used? This affidavit is commonly used in the following situations: Employment resignation or termination settlemen...