What is an indemnity agreement in real estate?

Indemnification in real estate defines the buyer taking full responsibility for what should be the seller's fault otherwise. For example, you agree to purchase a property with minor flaws caused by the seller.

Can the state of California indemnify?

California's long-standing anti-indemnity laws prohibit a public agency from forcing a contractor to indemnify the agency for its "active negligence." That prohibition has now been expanded in new and amended anti-indemnity statutes, which protect subcontractors and suppliers of goods and services (not just contractors

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Indemnification Agreement for Sale of Real Estate with Planted Timber

San Bernardino California Indemnification Agreement for Sale of Real Estate with Planted Timber

Name: San Bernardino California Indemnification Agreement for Sale of Real Estate with Planted Timber
Brand: US Legal Forms
Rating: 4.81 (443 reviews)

Category:

Contracts - Indemnification

State:

Multi-State

County:

San Bernardino

Control #:

US-01619

Format:

Instant download

Description

The purchaser agrees to buy certain property from the seller. A portion of the property was planted in pines with government assistance. Purchaser agrees to abide by the terms and provisions and conditions of the agreement and if a violation occurs, purchaser will hold seller harmless for any due payments.

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FAQ

Indemnification provisions are generally enforceable. There are certain exceptions however. Indemnifications that require a party to indemnify another party for any claim irrespective of fault ('broad form' or 'no fault' indemnities) generally have been found to violate public policy.

While such agreements are widely recognized in the State of California, they are only enforceable if, and only if, both the general contractor and the subcontractor sign the agreement. Unlike some contracts, which need only be signed by the party to be charged, an indemnity agreement must be signed by both parties.

At their core, indemnification provisions transfer liabilities related to a claim from one party to another party, generally in the event of a breach of contract or a party's negligence or misconduct in the performance of the agreement.

Court will not enforce an indemnification provision that indemnifies an indemnitee for its own negligence unless the intention of the parties is clearly and unambiguously expressed. Courts first look for specific language in the contract that address the fault or negligence of the indemnitee.

Obligation to indemnify The obligation to indemnify requires the indemnifying party to: Reimburse the indemnified party for its paid costs and expenses, referred to as losses. Advance payment to the indemnified party for its unpaid costs and expenses, such as: Liabilities. Claims. Causes of action.

Indemnification in real estate defines the buyer taking full responsibility for what should be the seller's fault otherwise. For example, you agree to purchase a property with minor flaws caused by the seller.

While generally, indemnity contracts for negligence are enforceable, the strict rule of construction in California is that indemnity for active negligence requires explicit language in the clause that negligence of the indemnitee is to be included.

California's long-standing anti-indemnity laws prohibit a public agency from forcing a contractor to indemnify the agency for its "active negligence." That prohibition has now been expanded in new and amended anti-indemnity statutes, which protect subcontractors and suppliers of goods and services (not just contractors

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Is indemnified in the agreement against any future expense associated with the conservation bank property. Seller's Indemnification.The insurance requirements set out in this section are not intended to diminish or limit any indemnification obligations expressly set forth in this Agreement. THE PROPERTY IS. LOCATED ON THE SOUTHWEST CORNER OF RANCHO ROAD AND. Mr. Gage wanted clarification regarding the St. George property in the downtown area, proposing dark brown high density. San Bernardino, located in Southern California, might be one of the best places to raise a family. SECTION 607 Real Estate Commissions; Finder's Fee . Local jurisdictions such as the City of San Bernardino. Located in the County of San Bernardino, California (the "County"). Any licensed real estate broker has the right to sell and receive full commission if the sales contract is acceptable to seller.

San Bernardino California Indemnification Agreement for Sale of Real Estate with Planted Timber

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