Leased Equipment, Financed Equipment, Servicing/Monitoring Payments

//Leased Equipment, Financed Equipment, Servicing/Monitoring Payments

Leased Equipment, Financed Equipment, Servicing/Monitoring Payments

Buyers should always ask the seller about these issues and contract for a seller disclosure form which asks about these issues.

Here is a rough draft idea for this issue, perhaps for SCR391.

Seller affirms: that the Seller owns the Property and that Seller can convey the Property and that there is no and will be no leased equipment, no tenants, no financed equipment, no lump sum payments, no servicing payment, and no recurring payments applying to the Property currently and during closing regarding security systems, security monitoring, satellite equipment, fuel systems, solar panels, energy systems, spas, pools, water treatment systems, air treatment systems, communications systems, safety systems, roll carts, and similar issues; and Seller agrees to indemnify the Buyer for any costs including attorney fees to enforce indemnification regarding any Seller mistaken affirmation or Seller false affirmation for these above issues unless written here: ________________________________________________________________________________________________________________________________________________________.

Posted by: Byron King on 11/27/18 (This information is only accurate as of 11/27/18. You must contact SCR for updates and changes to this information after 11/27/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

[category Legal FAQs]

By |2018-12-11T16:11:32+00:00November 27th, 2018|Legal FAQs|0 Comments

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