A:

A release is a document that an insurance company may ask you to sign which basically says that you agree to accept their settlement offer and that you promise not to sue them for more money after they grant you a settlement. The Virginia Code allows you to rescind, or “get out of” such a release in certain circumstances.

§8.01-425.1 of the Virginia Code, the Right of Release; Right of Rescission states:

When a claimant or plaintiff executes a release of liability as a condition of settlement in a claim or action for personal injury within thirty days of the incident giving rise to such claim, such claimant or plaintiff shall have a right of rescission until midnight of the third business day after the day on which the release was executed, provided that he was not represented by counsel when the release was executed, the rescission was made in writing to the person or persons being released, their representative or insurance carrier, and the claimant returns to the person or persons being released any check or settlement proceeds received by the claimant prior to the rescission. A release of liability executed within thirty days of the incident giving rise to the claim for personal injury by a person who is not represented by counsel shall contain a notice of the claimant’s or the plaintiff’s right to rescind conspicuously and separately stated on the release.

As stated above, a release is not binding if it is signed within 30 days of the accident which caused the injuries; you are not represented by an attorney at the time you sign the release; written notice is given to the insurance company that asked you to sign the release within three days after the release was signed; and you return any check or settlement money that you received from the insurance company. If all of these conditions are met, you may rescind, or get out of, a release that you have signed.