look up any word, like fleek:
 
1.
1) A state of unemployment

2) To end a relationship
Landlord: You know its the 7th already and I haven't got your rent check.
Gary: Yeah, sorry about that. I got put on waivers 2 weeks ago, but I'll pay you as soon as I get it.

Andy: Hey man, whats with the new car? I thought you were out of work.
Gary: I was, but some jokers downtown picked me up on waivers last week, so I went and shot my wad on this gangster-ass Hyundai.

Andy: What up man, who's the new girl you were at the bar with last night?
Gary: Oh, just something to keep my bit from rusting over. Brenda wasn't giving it up like she used to, so I put her on waivers and picked up this new dime.
by MannyL May 06, 2007
 
2.
A term used when claiming an object that has sat idle for at least 21 days.
Hey! Where did you get that dartboard?
-I claimed it off of waivers from my brother. He hasn't used it since the days of yore.
by King Jumungus January 05, 2006