The Most Important 4 Words in a Warranty
Zachary Soccio-Marandola
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The Most Important 4 Words in a Warranty
By Zachary Soccio-Marandola · · View online →
The Legal Newsletter for Ontario REALTORS®
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Reading Time: 4 minutes
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Key Takeaway
The phrase "survive and not merge" prevents a Seller's promise from expiring on closing day. Without it, the Agreement ends the moment the deal closes—leaving your buyer with no recourse.
The phrase "survive and not merge" prevents a Seller's promise from expiring on closing day. Without it, the Agreement ends the moment the deal closes—leaving your buyer with no recourse.
You see this line on almost every warranty clause:
The Seller represents and warrants that the chattels and fixtures as included in this Agreement of Purchase and Sale will be in good working order and free from all liens and encumbrances on completion. The parties agree that this warranty shall
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