124 Basic seller protection clauses

124.1 General

The disclosure letter1 has the effect of restricting the buyer’s ability to bring a claim under the warranties against which disclosure has been made. However, it is rare that the disclosure letter will limit the buyer’s ability to make a claim under the tax deed2; and, indeed, the buyer should always be advised against agreeing to this. If a disclosure is made in respect of a past tax liability, the parties will need to agree how to treat it—either as a reduction in the consideration price, or as provision for the seller to ensure

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