This Limited Warranty Certificate has been prepared to comply with the requirements of the federal Magnuson-Mass Warranty-Federal Trade Commission Improvement Act enacted in 1975 (15 U.S.C. Section 2301); certain language is required by regulations promulgated by the Federal Trade Commission (16 C.F.R. Section 701.3).
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
A Tennessee Limited Warranty Certificate issued to the owner of a condominium unit is a legal document that provides certain assurances and protections to the owner of the property. It serves as evidence of the developer's commitment to the quality and workmanship of the unit being sold. The limited warranty certificate is a crucial document that outlines the terms and conditions under which the developer agrees to carry out repairs and address any construction defects for a specific period after the purchase. This warranty typically covers structural elements, plumbing, electrical systems, and other major components of the condominium unit. The Tennessee Limited Warranty Certificate specifies the duration of the warranty, which can vary depending on the developer and the type of property being sold. Commonly, these warranties last for a period of one to three years from the date of closing or occupancy. There are different variations of Tennessee Limited Warranty Certificates issued to owners of condominium units, including: 1. Basic Limited Warranty: This type of certificate offers protection for a specific period and generally covers defects in materials and workmanship that arise during the construction process. 2. Extended Limited Warranty: Some developers may offer an extended warranty period beyond the basic warranty. This additional coverage provides extra peace of mind to the owner, covering construction defects that may arise even after the initial warranty period has expired. 3. Limited Lifetime Warranty: Certain developers may offer a limited lifetime warranty on specific components of the condominium unit, such as the foundation or structural elements. This type of certificate provides long-term protection and suggests a high level of confidence in the quality of construction. 4. Transferable Warranty: In some cases, developers may allow the limited warranty to be transferred to subsequent owners if the property is sold within the warranty period. This can be an attractive feature for potential buyers as it adds value to the property being purchased. It is important for owners of condominium units in Tennessee to thoroughly review and understand the terms and conditions outlined in their Limited Warranty Certificate. Each certificate may have specific requirements for reporting defects and requesting repairs, and failure to comply with these provisions may result in a denial of warranty coverage. Overall, a Tennessee Limited Warranty Certificate issued to the owner of a condominium unit aims to provide assurance and protection regarding the quality of construction. It is a valuable document that provides recourse for owners in the event of construction defects or issues with the property.A Tennessee Limited Warranty Certificate issued to the owner of a condominium unit is a legal document that provides certain assurances and protections to the owner of the property. It serves as evidence of the developer's commitment to the quality and workmanship of the unit being sold. The limited warranty certificate is a crucial document that outlines the terms and conditions under which the developer agrees to carry out repairs and address any construction defects for a specific period after the purchase. This warranty typically covers structural elements, plumbing, electrical systems, and other major components of the condominium unit. The Tennessee Limited Warranty Certificate specifies the duration of the warranty, which can vary depending on the developer and the type of property being sold. Commonly, these warranties last for a period of one to three years from the date of closing or occupancy. There are different variations of Tennessee Limited Warranty Certificates issued to owners of condominium units, including: 1. Basic Limited Warranty: This type of certificate offers protection for a specific period and generally covers defects in materials and workmanship that arise during the construction process. 2. Extended Limited Warranty: Some developers may offer an extended warranty period beyond the basic warranty. This additional coverage provides extra peace of mind to the owner, covering construction defects that may arise even after the initial warranty period has expired. 3. Limited Lifetime Warranty: Certain developers may offer a limited lifetime warranty on specific components of the condominium unit, such as the foundation or structural elements. This type of certificate provides long-term protection and suggests a high level of confidence in the quality of construction. 4. Transferable Warranty: In some cases, developers may allow the limited warranty to be transferred to subsequent owners if the property is sold within the warranty period. This can be an attractive feature for potential buyers as it adds value to the property being purchased. It is important for owners of condominium units in Tennessee to thoroughly review and understand the terms and conditions outlined in their Limited Warranty Certificate. Each certificate may have specific requirements for reporting defects and requesting repairs, and failure to comply with these provisions may result in a denial of warranty coverage. Overall, a Tennessee Limited Warranty Certificate issued to the owner of a condominium unit aims to provide assurance and protection regarding the quality of construction. It is a valuable document that provides recourse for owners in the event of construction defects or issues with the property.
