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Auction property terms...
purplefox
Posts: 17 Forumite
I'm looking at some auctions properties and have come across this...
'The Buyer agrees to indemnify the Seller in respect of all liability for or resulting from the environmental condition of the Lot.'
and this:
'The Buyer will keep the Seller indemnified against all liability in respect of any individuals claiming or found to be employees transferring or who should have transferred to the Buyer by operation of TUPE.'
Any ideas whether this is standard wording or if it sounds like it has been put in because of this individual property?
I've never come across this before...or maybe I've just never read the legal docs as thoroughly
'The Buyer agrees to indemnify the Seller in respect of all liability for or resulting from the environmental condition of the Lot.'
and this:
'The Buyer will keep the Seller indemnified against all liability in respect of any individuals claiming or found to be employees transferring or who should have transferred to the Buyer by operation of TUPE.'
Any ideas whether this is standard wording or if it sounds like it has been put in because of this individual property?
I've never come across this before...or maybe I've just never read the legal docs as thoroughly
0
Comments
-
Are you buying a business with employees?? TUPE only applies to employees transferred...
http://en.wikipedia.org/wiki/TUPE0 -
theartfullodger wrote: »Are you buying a business with employees?? TUPE only applies to employees transferred...
No, it's an empty flat - I found same thing but assumed there must be more than one use.
Unless it comes with a butler..?0 -
Pardon? Yer wot? Duh! Well, yes, try to get to the bottom of what that means and what the implications might be for you if you buy the gaff as evidently that probably means they can come and give you gyp and screw you for large amounts of cash if you tread on this odd little land mine that they've planted down there in the terms and conditions and blah and bumf. Well done for spotting it. Yeah, I'd probably attempt to lock that down before I risked myself and my cash...good luck0
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