ULC

Acts

Vendor and Purchaser Risk Act (1935)

Description

The purpose of the Uniform Vendor and Purchaser Risk Act is to protect the purchaser of real estate where there is a binding contract of sale and the property is destroyed before the purchaser has gone into possession or has taken legal title, and to protect the vendor after transfer of possession.

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Drafting History

Origin: Completed by the Uniform Law Commission in 1935.
Committee/Resources: Vendor and Purchaser Risk