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However, the words "home warranty" are not always used explicitly to mean a legal warranty is being conveyed. In many cases, at least in the United States, a home warranty is not a warranty at all, but rather a home service contract that covers the repair and/or replacement costs of home appliances , major systems such as heating and cooling ...
A home insurance policy protects your finances against specific types of damage to your home and belongings, while a home warranty is a service contract that can cover repairs to major home ...
The home warranty company can deny claims if an item has not been properly maintained. This can be difficult to disprove if you don’t have a record of prior maintenance.
A home warranty protects against the costs of home and appliance repair by offering home warranty coverage for houses, townhomes, condominiums, mobile homes, and new construction homes. When a problem occurs with a covered appliance or mechanical system such as an air conditioning unit or furnace, a service technician repairs or replaces it ...
In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically mentioned, "marketable title" may be specified, implying a warranty deed should be provided. Lenders will insist on a warranty deed.
A co-op is more like a rental agreement, where you are the tenant and the building owner is the landlord. Your shares do not translate to real property like owning a house or condo does. Instead ...
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