DEED FORM WARRANTY
I. Introduction
This warranty serves as a legal agreement between the property seller, [SELLER NAME], and buyer, [BUYER NAME], detailing the assurances with regard to title and the condition of the property being conveyed. This document is designed to ensure clarity and legal protection for all parties involved in the real estate transaction.
Both parties acknowledge the importance of this warranty in providing fair and transparent dealings, protecting the interests of the seller and purchaser, and ensuring that all actions are in accordance with local and national laws pertaining to property sales.
II. Coverage Period
The warranty coverage will commence from the date of completion of the sale and will continue for a period of [WARRANTY DURATION IN YEARS] years. Any valid claims made within this period and in accordance with the warranty's terms will be honored.
Please note, however, that the warranty's coverage period does not extend to any changes made or damages incurred upon the property post the sale completion date.
III. Coverage Details
Upon compliance with the terms set out, this warranty provides assurance on:
The authenticity and legality of the property's title
The condition of the property at the time of sale
Liabilities in the event of any undisclosed encumbrances
The buyer must note that any modifications, construction, renovations, or changes of any kind to the property, post the sale, are not covered under this warranty.
IV. Claims Procedure
In the event of a claim under this warranty, the buyer must provide written notice to the seller within [CLAIMS NOTICE PERIOD] days of discovering the issue. The notice must include detailed information regarding the nature of the claim and any supporting evidence. Upon receipt of the claim, the seller will initiate an investigation to determine the validity and extent of the claim.
V. Remedies
If a valid claim is established, the seller agrees to provide remedies as deemed appropriate, which may include:
Rectification of title defects, if any, to ensure the buyer receives clear and marketable title to the property.
Financial compensation for any damages or losses incurred by the buyer due to breaches of warranty.
Any other actions necessary to fulfill the obligations under this warranty.
The extent of remedies provided will be subject to the terms and limitations outlined in this warranty agreement.
VI. Limitations of Liability
It is expressly understood and agreed that the seller's liability under this warranty is limited to the terms and conditions set forth herein. The seller shall not be liable for any indirect, consequential, or incidental damages arising out of or in connection with the property sale, including but not limited to loss of profits, loss of use, or loss of goodwill.
VII. Governing Law
This warranty shall be governed by and construed in accordance with the laws of [STATE/COUNTRY], without regard to its conflict of law principles. Any disputes arising out of or in connection with this warranty shall be resolved through arbitration in [CITY, STATE/COUNTRY] in accordance with the rules of the [ARBITRATION AUTHORITY].
VIII. Severability
If any provision of this warranty is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect. The parties agree to replace any invalid provision with a valid provision that most closely approximates the intent and economic effect of the invalid provision.
IX. Contact Information
For any queries or assistance throughout this warranty's duration, you can reach out to us at [YOUR COMPANY EMAIL] or call us at [YOUR COMPANY NUMBER]. We are committed to providing our customers with superior service and ensuring their satisfaction.
X. Conclusion
This warranty represents the mutual understanding and agreement between the seller, [SELLER NAME], and the buyer, [BUYER NAME], regarding the assurances and protections afforded in the sale of the property. By signing below, both parties acknowledge their acceptance of the terms and conditions outlined herein, and affirm their commitment to abide by them throughout the duration of this warranty.
[Seller Signature]: _________________________ Date: _______________
[SELLER NAME]
[SELLER ADDRESS]
[SELLER EMAIL]
[SELLER PHONE NUMBER]
[Buyer Signature]: _________________________ Date: _______________
[BUYER NAME]
[BUYER ADDRESS]
[BUYER EMAIL]
[BUYER PHONE NUMBER]
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