Inspection-Non Reliance Clauses: Contract for Real Property

• Category: Contracts - Clauses
• State: Multi-State
• Control #: US-C-CL-640-1
• 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 Inspection-Non Reliance Clauses for a Contract for Real Property. A non-reliance provision requires a buyer to specifically disclaim reliance on any extra-contractual representations and warranties made by a seller to a buyer.

Inspection-Non Reliance Clauses: Contract for Real Property are clauses that are included in contracts for the sale or transfer of real estate. These clauses typically state that the purchaser of the property is not relying on any inspections or representations made by the seller or other parties regarding the condition of the property. The purpose of these clauses is to protect the purchaser from any surprises after the sale is complete, as any defects or deficiencies in the property that were not disclosed by the seller prior to the sale are the responsibility of the purchaser. There are two main types of Inspection-Non Reliance Clauses: Contract for Real Property: 1. Disclaimer Clauses: These clauses typically state that the seller is not making any representations or warranties regarding the condition of the property and that the purchaser is purchasing the property “as is”. 2. Indemnification Clauses: These clauses typically state that the seller is indemnifying the purchaser from any claims or losses related to any defects or deficiencies in the property that were not disclosed prior to the sale.