OK I can answer this one.
Here are some things that have to be addressed first.
1. Who actually owns the land?
2. Will there be any organized events?
3. How will the track be supervised?
Any track that is open to the public IS open to litigation. What the waivers do is to try and deter MORE lawsuits, and give the rider an "acceptance of liability" that riding a motorcycle is a dangerous activity.
Here are the most likely suspects of people filing lawsuits on tracks.
1. A collision with another rider, going in an opposing direction.
Cause cited- Not a Definate posting of track direction. Granted the other 20 people on the track SHOULD have been the best indicator, but because there was no posting of direction this a-hole thought that he should sue the track owner cuz they are soooo wealthy.
2. I still can not believe this one!! A rider here in Colorado sued a track because the jumps were not groomed properly. He was riding the day after a race and the track was still beat up. After riding for 2 hours, he decided that he wanted to double a triple step down and gave it a little too much gas on a cupped out lip and over jumped it landing on the face of the third hump. He had no permanent injuries but stated pain and suffering because he was not able to ride for the summer.
You will absolutly need an attorney to draw up a good waiver that everyone MUST sign EVERYTIME. You will also need to have it posted in several places of HIGH visability that anyone NOT signed in is TRESSPASSING and subject to prosecution. Then you will need a good limited liability insurance policy to cover your azz.
Good luck, I am promoting some events this summer and getting all the insurance is a pain, but that is how we will grow the sport.