Representation and Warranty of System Clauses: Contract for Real Property

• Category: Contracts - Clauses
• State: Multi-State
• Control #: US-C-CL-555-1
• Format: Word; Rich Text

Description

A clause dictates the conditions under which the contract is legally enforceable and determines the terms of the contract. Contracts often contain boilerplate clauses or standard clauses found across most contracts. These standard clauses do not require a lot of negotiation. Included is a Sample Representation and Warranty of System Clauses for a Contract for Real Property. Representation and Warranty of System Clauses: Contract for Real Property are clauses in a real estate contract that require one party to guarantee that the condition and systems of the property meet certain standards. Representation and Warranty of System Clauses can include, but are not limited to, warranties concerning the electrical, plumbing, heating and cooling systems, and any other systems or components that may be associated with the property. These clauses typically require one party to acknowledge the condition of the systems at the time of the contract and to ensure that the systems will remain in good condition throughout the duration of the contract. The types of Representation and Warranty of System Clauses: Contract for Real Property include: • Warranty of Habitability: This clause requires that the property be habitable, meaning that it meets the standards of health and safety for its intended use. • Warranty of Structural Soundness: This clause requires that the property is structurally sound and free from any defects that would affect its safety or usability. • Warranty of Compliance with Building Codes: This clause requires that the property complies with all applicable building codes. • Warranty of Environmental Compliance: This clause requires that the property is free from any environmental hazards. • Warranty of Mechanical Systems: This clause requires that the mechanical systems, such as the electrical, plumbing, heating and cooling systems, are in good working order.

Representation and Warranty of System Clauses: Contract for Real Property are clauses in a real estate contract that require one party to guarantee that the condition and systems of the property meet certain standards. Representation and Warranty of System Clauses can include, but are not limited to, warranties concerning the electrical, plumbing, heating and cooling systems, and any other systems or components that may be associated with the property. These clauses typically require one party to acknowledge the condition of the systems at the time of the contract and to ensure that the systems will remain in good condition throughout the duration of the contract. The types of Representation and Warranty of System Clauses: Contract for Real Property include: • Warranty of Habitability: This clause requires that the property be habitable, meaning that it meets the standards of health and safety for its intended use. • Warranty of Structural Soundness: This clause requires that the property is structurally sound and free from any defects that would affect its safety or usability. • Warranty of Compliance with Building Codes: This clause requires that the property complies with all applicable building codes. • Warranty of Environmental Compliance: This clause requires that the property is free from any environmental hazards. • Warranty of Mechanical Systems: This clause requires that the mechanical systems, such as the electrical, plumbing, heating and cooling systems, are in good working order.