17 May Property Conveyancing – What is the difference between a Condition and a Warranty?
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Conveyancing: Condition or warranty?
Often determining whether something in a property contract is a condition or a warranty can be difficult.
As a high level definition:-
A condition is when a party to the sale and purchase agreement has to do something by a specific date, failing which the property contract may fall over.
A warranty is a promise to do something (but does not always specify the date it must be done by), where failure to do so will result in a breach of contract.”
Our legal tips do not substitute for legal advice tailored for your circumstance. The Quay Law, Auckland property lawyers and conveyancing team recommend you discuss you property sale and purchase agreement with a conveyancing specialist prior to signing the legal and binding contract.
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