Latent Defects in Property Sale After Deed Execution
Synthèse Legislator
Généré par l'IAA party, having entered into a contract for the sale of property, sought to have the sale declared null due to a defect in the object of the contract which was only discovered after the final deed was executed. The court of first instance found that while the defect existed, the purchaser was deemed to have accepted the property as is based on the final act, precluding a later claim for nullity or reduction in price. The highest court quashed this decision, reasoning that the final execution of the deed does not, by itself, constitute a waiver of latent defects, and a buyer can still seek remedies under the warranty against hidden defects, as these defects affect the essential quality of the sold item, thereby rendering the initial legal basis for the transaction flawed.
Regeste Legislator
Généré par l'IALatent Defects in Property Sale After Deed Execution: The court of first instance found that while the defect existed, the purchaser was deemed to have accepted the property as is based on the final act, precluding a later claim for nullity or reduction in price. The highest court quashed this decision, reasoning that the final execution of the deed does not, by itself, constitute a waiver of latent defects, and a buyer can still seek remedies under the warranty against hidden defects, as these defects affect the essential quality of the sold item, thereby rendering the initial legal basis for the transaction flawed.