Which warranty does NOT survive closing?

Study for the Arizona 6-Hour Contract Writing Course. Use flashcards and multiple choice questions with hints and explanations. Prepare effectively for your exam!

When considering which warranty does not survive closing, the correct choice is centered around the nature of the obligation in question. The statement regarding the seller's requirement to maintain the property in good condition does not typically survive closing because it is generally considered that the responsibility for ongoing maintenance shifts to the new owner once the transaction is complete. Upon closing, buyers take possession of the property and assume the responsibility for its upkeep, effectively absolving the seller of the obligation to maintain the property.

In contrast, other warranties involved in a real estate transaction often extend beyond closing. For example, the buyer’s acknowledgment that they have not relied on verbal representations acknowledges the integrity of the written contract. Similarly, the obligation for the seller to disclose material facts is intended to protect the buyer post-closing, ensuring that they are fully informed about any critical issues related to the property's condition. Lastly, the requirement for buyers to warrant all inspections completed assures that they have done their due diligence and cannot later claim ignorance regarding the property’s condition. These obligations serve to protect both parties in the context of real estate transactions and are designed to endure beyond the closing date.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy