Real Warrandice is a legal arrangement in which the seller of a piece of land guarantees to provide the buyer with an alternative piece of land if any third party asserts ownership over the purchased land. It serves as a form of protection or insurance for the buyer in the event that they lose the land to another claimant.
Real warrandice is a term used in Scots law to describe a legal obligation where certain lands are given as security for lands that are conveyed to the grantee. If the grantee is evicted from the conveyed lands by a third party, the lands given as security will be transferred to the grantee. Real warrandice serves as an indemnity that safeguards the grantee or buyer of land in the event that another person establishes a superior title and takes possession. This is distinct from personal warrandice, which is an obligation to indemnify that binds the grantor and the grantor’s heirs.
For instance, if John purchases a piece of land from Mary and Mary provides real warrandice, but it is later discovered that the land actually belongs to someone else and John is evicted, Mary must transfer the lands given as security to John. Real warrandice is commonly utilised in property transactions to offer additional security to the buyer. It ensures that the buyer will not suffer financial loss if someone else claims ownership of the property. These examples demonstrate how real warrandice operates in practice. It is a legal mechanism that provides protection to buyers of land in Scotland, guaranteeing that they are not financially disadvantaged if someone else asserts ownership of the property.
Real warrandice is a legal term that refers to the guarantee of clear and marketable title to a property. It ensures that the seller has the legal right to sell the property and that there are no undisclosed encumbrances or defects in the title.
Real warrandice is important because it provides protection to the buyer by ensuring that they are receiving a property with a clear title. It also gives the buyer recourse if any issues with the title arise after the sale.
Real warrandice is typically provided by the seller of the property as part of the sales contract. It is a legal obligation for the seller to provide real warrandice to the buyer.
If the seller cannot provide real warrandice, the buyer may have legal recourse to seek damages or to rescind the contract. It is important for buyers to thoroughly review the title and seek legal advice if there are any concerns about the seller’s ability to provide real warrandice.
Real warrandice provides a guarantee of clear title, while a quitclaim deed only transfers whatever interest the seller may have in the property, without any guarantee of clear title.
In some cases, real warrandice may be waived by the buyer as part of the sales contract. However, it is important for buyers to carefully consider the implications of waiving real warrandice and to seek legal advice before doing so.
The statute of limitations for real warrandice claims varies by jurisdiction, but it is typically a few years from the date of the sale. It is important for buyers to be aware of the statute of limitations and to take prompt action if they believe there is a breach of real warrandice.
Real warrandice is typically specific to the buyer named in the sales contract and cannot be transferred to a new owner. However, the new owner may have their own rights and remedies if there are issues with the title.
Buyers should conduct a thorough title search and review all relevant documents to verify real warrandice. It is also advisable to seek the assistance of a qualified real estate attorney to ensure that the real warrandice is properly provided.
If there is a breach of real warrandice, the buyer may have legal recourse to seek damages, rescind the contract, or take other appropriate action. It is important for buyers to understand their rights and to seek legal advice if they believe there has been a breach of real warrandice.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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