Brad Lambert

29 Mar: THE AS-IS CLAUSE : THE SELLER DISCLOSURE ACT CHANGES THE GAME

Many House Sellers believe that an “as is” clause will protect them from all legal liability if the Buyers subsequently discovery any undisclosed defects or faults in the purchased House. This belief is not unfounded; the “as is” clause does indeed transfer the risk of loss from a House defect to the Buyer in many cases. The Michigan Seller Disclosure Act (the “Act”) dramatically impacts this calculation. The Act changed the residential house sale rules…

15 Mar: ARBITRATION PROS AND CONS

When contracting parties confront the possibility of a commercial dispute, one of the fundamental questions they face is whether to arbitrate that dispute. This question can be answered by the contract, or the parties can simply choose to arbitrate at any point after the dispute has arisen. There are several frequently cited PROS and CONS to Arbitration versus court-based litigation: PROS 1. Arbitration is less expensive 2. Arbitration is quicker 3. The Arbitrator usually specializes…

13 Mar: The Amended Marketable Title Act: Opportunities for Mischief?

The Michigan legislature amended the Marketable Title Act to clear titles. In the process, they may have created more room for error. At the end of 2018, the Michigan Legislature amended the Marketable Title Act. The intent was to clarify the meaning of the phrase “subject to easements and restrictions of record”, which appears in many title policies. Under the law as revised, that customary phrase will not save a property restriction more than 40…