Unit 3: Statutory New Home Warranty Flashcards
What is the statutory new home warranty law?
It establishes warranties on new homes and home improvements cover defects caused by faulty installation and construction.
What does the builder promise during the 1 year period?
Free from defects caused by…
- workmanship
- materials
What does the builder promise during the 2 year period?
Free from defects caused by…
- plumbing
- heating
- ventilation
- cooling systems
What does the builder promise during the 10 year period?
Free from defects caused by…
- major structural defects
T/F The warranty covers structural damage as well.
False
When does the warranty take effect?
Either the buyer’s first legal occupancy or closing, whichever comes first.
How long does the homeowner have to alert the builder of a defect?
6 months
Upon receipt of defect notice, how long does the builder have to inspect the home?
30 days
T/F The builder must provide an offer to repair the defect within 15 days of the inspection.
True
The homeowner can file a lawsuit to recover damages or force the builder to fix it within how many days of notifying the builder?
180 days
