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As-Is
Practical Law Glossary Item w-001-3903 (Approx. 3 pages)
Glossary
As-Is
A term commonly used in agreements for the purchase and sale of real or personal property to inform the buyer that the property is being sold:
- In its current condition.
- With any existing faults.
- Without representations or warranties from the seller.
In an "as-is" transaction, the buyer is typically given the right to inspect the property during a due diligence period before deciding whether to purchase it.