The traditional approach of Jersey conveyancing is based firmly on the caveat emptor (buyer beware) principle. Property conveyances include standard wording under which the property is sold “in the state in which it was at the date hereof with all its apparent or hidden defects (“vices cachés“), if any”. This places the onus squarely on the purchaser to be satisfied with the physical condition of the property. If it were to fall down immediately after contract is passed before Court, it would be the purchaser who would be left to pick up the pieces.
Where, then, should a purchaser look for protection against the risk of the condition of the property not turning out to be as it should have been?