
What does under contract mean?
When buying a house what does under contract mean? Is it the same as under offer? If you’re a buyer or seller asking these questions, you’ve come to the right place!Here, we take a close look at...
An implied covenant in a contract is an unspoken agreement that both parties will act fairly and honestly, even if it's not explicitly written down.
An implied covenant in a contract is an unspoken agreement that both parties will act fairly and honestly, even if it's not explicitly written down. An example of this is the condition or habitability of a residential home. Even if not explicitly stated in the contract, there's an expectation that the home is suitable to live in.
Quiet enjoyment in an implied covenant refers to the buyer's right to peacefully enjoy their ownership of the property after the title has been transferred. Essentially, it means that once the transfer is complete, the seller cannot interfere with the buyer's use or access to the property without their consent.
Contracts are official agreements with clear rules that can be enforced by law, while covenants are more like promises or commitments that are often based on trust.
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