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Understanding Purchase Agreement "As Is" Clauses

Understand how to draft and critique "as is" clauses in purchase agreements, and how to evaluate whether they are enforceable.

Many real estate sellers and buyers do not realize the protections a well-drafted "as is" clause in a purchase agreement provides to a seller, or the hazards it entails for a buyer. State laws are in flux as to the extent to which a seller must disclose adverse conditions on real property being sold, which raises questions as to the extent to which "as is" clauses are advisable and enforceable. This topic helps buyers and sellers of real property understand how to draft and critique "as is" clauses in purchase agreements, and how to evaluate whether they are enforceable and suggests effective ways to enforce "as is" clauses. If a seller fails to include a well-drafted "as is" clause in a purchase agreement, or if a buyer fails to reject over-reaching or inappropriate "as is" clauses, the parties to the sale may incur unexpected liability or fail to receive the benefits they expected from the sale.

Runtime: 90 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What Is an "As Is" Clause?

Warranties Typically Given in Purchase Agreements

  • Authority
  • Condition of Property
  • Pending Litigation and Proceedings
  • Other

Limitations on Seller's Ability to Restrict Warranties as to Condition of Property

  • State Law Disclosure Restrictions on Sellers
  • State Law Disclosure Restrictions on Brokers
  • Other

Drafting "As Is" Clauses

Enforcing "As Is" Clauses

  • Contractual Claims
  • Fraud Claims
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on February 25, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Gretta C. Spendlove

Gretta C. Spendlove

Durham Jones & Pinegar

  • Shareholder with Durham Jones & Pinegar
  • Practice emphasizes commercial real estate and corporate law
  • Conducts regular seminars and workshops in fields of real estate contracts, land use and title law, easements and boundary disputes, commercial financing and leasing, and use of LLCs for real estate development
  • Member, CCIM, NAIOP, CREW, ULI
  • J.D. degree, University of Arizona
  • Can be contacted at [email protected] or 801-415-3000
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 405010
Published 2019
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