THE EXTENT OF THE LEGAL GUARANTEE IN REAL ESTATE LAW
The purchase of a real estate property involves its share of risks, especially if its construction dates back several years or if the seller proposes to exclude the legal warranty of quality, commonly called “warranty against hidden defects”.
The general rule is that the sale of a property is made with the legal guarantee of quality (and on the right of ownership, the absence of encumbrances, mortgages, and limitations of public law), to allow recourse to the buyer against the seller if a major defect affects the quality of the building through M&A advisory.
In the majority of cases. When a property is sold “without warranty” or “at the risk. And peril of the buyer” (a distinction between these two notions will be made later). It is a sale made by a financial institution following a takeover or by the heirs. Of an estate who have never lived in the building. However, it is increasingly common to see “standard” sales that include. The exclusion of the legal warranty, either through an offer made on the internet. Or through a real estate agent, hence the importance of fully understanding its scope Estate Agents and Letting Agents in Leeds and Sell Your Property in Leeds.
The law grants “de facto” this guarantee. To the buyer via article 1726 al.1 of the Civil Code in San Diego. The seller is required to guarantee to the buyer that the property and its accessories are. At the time of the sale, free from latent defects. Which render it unfit for the use for which it is intended. Or which so diminish its usefulness that the buyer would not have bought it. Or would not have given such a high price if he had known of them.
GUARANTEE IN REAL ESTATE LAW
However, a reservation is expressed in the second paragraph of the same article: “However. He is not required to guarantee the hidden defect known to the buyer or the apparent defect. Is apparent the defect which can be observed by a prudent. And diligent buyer without the need to resort to an expert.”
Article 1732 of the CQC allows the parties, by contract. To add to the obligations of the legal warranty, reduce its effects, or exclude it completely. The seller cannot exclude or limit his liability if he has. Not revealed the defects which he knew or could not ignore. And which affect the right of ownership or the quality of the good. “This rule is however subject to an exception when the buyer buys at his. Own risk from a non-professional seller with the help of an M&A advisory.
Concerning the hidden defects on the building, the defect must be non-apparent. Therefore unknown to the seller and the buyer at the time of the sale. The apparent defect, meanwhile. Is presumed to be known to the buyer at the time of the transaction. So no recourse would be possible for the apparent defect that a diligent buyer should have noticed. A prudent buyer will therefore endeavor to ask as many questions as possible. Read the seller’s declaration. And stipulate that the purchase is conditional on a professional inspection that will be to his satisfaction.
If the sale is stipulated “without legal warranty”. The buyer will have no recourse for really latent defects .But will still have, according to the law. Recourse against the seller for defects that the seller knew, or he couldn’t ignore.
GUARANTEE IN REAL ESTATE LAW
If the agreement specifies that the sale is made “at the risk and peril of the buyer”. The latter will in principle have no recourse. Except for defects that the seller would have fraudulently hidden from the buyer by false representations. Under the general rules relating to contracts in the Civil Code in San Diego.
However, the courts (in the context of recent judgments) tend to lean in favor of the buyers. Even when the sale is made “without legal warranty”. However, the burden of proof rests with the plaintiff who is the buyer.
If you discover a major defect in your recently acquired building (water damage caused by a crack in the foundation. Holes in the roof, mold in the walls, instability of the foundations, or others). The first thing is to keep as much evidence as possible. possible damage caused. Then, the seller must be notified of the situation as soon as possible.
A formal notice to repair the defect, at his expense, must then be sent to him by registered mail. If the seller fails to comply with your request within the prescribed time. An action may be brought against him, either in small claims or through. A lawyer if the amount of the claim proves to be higher.
If in doubt, before signing any promise to purchase with the mention “without legal warranty. Or “at the risk and peril of the buyer”, consult your real estate law specialist, consult your notary.