As Is Law & Legal Definition
As-is is a term used in warranty law to disclaim the seller's liability for faults in the item sold. The buyer accepts the item in the present condition, whether the faults are apparent or not. "As-is" language clarifies that no written or verbal warranties were made to the buyer and is used to protect the seller. However, the seller cannot misrepresent the item or use fraud to induce the sale.
In most states "as-is" home sellers are now required to disclose to their buyers all known defects in the residence. It is recommended that buyers in an as-is sale have the inspect the item carefully, such as hiring a professional home inspector when purchasing an as-is home.
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