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The nature and operation of the implied warranty of habitability in connection with residential real estate sales contracts, is something that every prospective home buyer and developer should understand, says Steven Welhouse, a real estate attorney at Levenfeld Pearlstein LLC (Chicago). "These warranties exist in every residential real estate contract, but many disputes that arise between developers and buyers are the result of one or both parties not understanding the characteristics of such warranties. When buyers raise issues, it is common for developers to use a variety of methods to attempt to disclaim implied warranties, however, developers must protect themselves from unfounded claims by understanding the factors that constitute a valid disclaimer under most state laws. The problem is that while many of these factors are well-defined, others are often quite vague." This article will focus on these ill-defined factors and discuss those which should not be considered valid, and others which should be more clearly defined by the courts.
Channel: Jaffe Legal News Service - Articles for Publication
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