Question

What are the liabilities of the;

Vendee
Vendor
of an inheritance sold/bought?
Option 1: Only the vendee has liabilities.
Option 2: Only the vendor has liabilities.
Option 3: Both the vendee and the vendor have liabilities.
Option 4: Neither the vendee nor the vendor has liabilities.

Answer 1

Both the vendee and the vendor have liabilities in an inheritance sale. The vendor must ensure a clear title, while the vendee is responsible for payment and adherence to the agreement's conditions.

Step-by-step explanation:

When considering the liabilities of the vendee and the vendor in the context of an inheritance sold or bought, the accurate answer is that both parties have certain liabilities. The vendor, or seller, has an obligation to provide a clear title to the vendee, or buyer, ensuring that the property is transferred without any legal encumbrances or claims from third parties. On the other hand, the vendee has the responsibility to pay the agreed-upon price for the inheritance and comply with any other conditions set out in the purchase agreement.

The laws and codes even in ancient times, as reflected in historical texts, have always emphasized the fair conduct of both parties involved in any transaction. Disputes are resolved by considering the evidence, witness testimony, and the original transaction terms.

Therefore, in legal terms, when an inheritance is bought or sold, Option 3: Both the vendee and the vendor have liabilities pertaining to the transaction.