Liability for Construction Defects
Comments Off on Liability for Construction DefectsIn real estate acquisitions, in particular when it comes to new buildings, an important part of the process is managing issues related to construction defects. Such defects may range from small snags to major problems. From the legal point of view, the responsibility for the rectification of the defects stands in the foreground.
The defects warranty by the contractor (in the case of a construction agreement) or seller (in the case of a house sale and purchase agreement) includes an obligation to provide the building in a condition that was agreed upon in the contract between the parties, including exhibits such as copies of construction drawings, bill of quantities, etc. The warranty applies for a certain period of time, the defects liability period, which starts with the acceptance and handover of the building.
