Legislative Fact Sheet - Vendor and Purchaser Risk Act (1935)

Act Vendor and Purchaser Risk Act (1935)
Origin Completed by the Uniform Law Commission in 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.
Enactments California, Hawaii, Illinois, Michigan, Nevada, New Mexico, New York, North Carolina, Oklahoma, Oregon, South Dakota, Texas, Wisconsin
2018 Introductions
Staff Liaison(s)