Land Contract Merge For Free

Definition of "Merger of title" Forming two or more parcels of property under one title. Normally, the smaller parcel (s) are joined to the title of the larger parcel. The merger of title often occurs in an estate settlement where adjoining parcels of property are merged under one title.

'Merger is the absorption of a lesser estate by a greater estate, and takes place when two distinct estates of greater and lesser rank meet in the same person or class of persons at the same time without any intermediate estate.

Any clause where a warranty or representation is made and states this warranty shall survive and not merge on the completion of the transaction means that whoever is making that warranty or representation is liable for that statement after closing is complete.

However, most indemnification provisions cover tort claims or allocate risk for third-party claims. Since a party might not become aware of these claims until after the contract termination, those indemnification provisions should survive termination.

The clause also demonstrates the parties' intention that they wish to exclude the common law doctrine of merger. This doctrine provides that contractual provisions merge upon completion meaning that a party's right to sue on the terms of the contract are extinguished upon completion.

A merger agreement definition is a legal contract governing the combination of two companies into a single business entity.

The merger doctrine is a common law doctrine, under which all prior agreements between a buyer and a seller merge into the delivery of the deed upon acceptance of the deed by the buyer.