Buying Commercial Property · glossary
Latin for “let the buyer beware”. A seller need not point out physical defects, even ones it knows about, but must disclose title defects the buyer could not find by inspection. So the buyer asks in writing, surveys and searches before exchange. Chapter 5 · see Enquiries, Misrepresentation
Explained in Chapter 5, Enquiries, Survey and the Price, of Buying Commercial Property.
Also explained in Legal Due Diligence and M&A Foundations.
A seller of land need not point out physical defects in what it sells, even ones it knows about. This rule is called caveat emptor (Latin for “let the buyer beware”). It covers the building, not the title. A seller must still disclose a defect in its title that it knows of and the buyer could not find by inspection.Read Chapter 5, Enquiries, Survey and the Price →
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