16:22
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Simple English definitions for legal terms
talis qualis
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A quick definition of talis qualis:
Term: TALIS QUALIS
Definition: Talis qualis means "such as it is" in Latin. When someone buys something and accepts it in its current condition, they are taking it talis qualis. For example, if someone buys a car and accepts it with all its current flaws and issues, they are taking it talis qualis.
A more thorough explanation:
Definition: Talis qualis (tay-lis kway-lis) is a Latin term that means "such as it is." In legal terms, it refers to a purchaser who accepts the title of a property as it stands at the time of sale.
Example: Let's say you're buying a house and the seller tells you that there are some issues with the title, such as liens or easements. If you agree to buy the house "talis qualis," it means you're accepting the title as it is, with all its flaws and defects.
This term is often used in real estate transactions, where buyers may be willing to accept a property with some legal issues if they believe it's still a good deal. However, it's important to understand the risks involved in accepting a title talis qualis, as you may be responsible for any legal problems that arise in the future.