Question

What types of undertaking can a solicitor for the vendor provide to complete matters after closing that cannot be completed prior to closing?

1) Undertaking to obtain necessary consents or approvals
2) Undertaking to pay outstanding bills or debts
3) Undertaking to transfer ownership of assets
4) Undertaking to resolve any legal disputes
5) Cannot be fixed

Answer 1

A solicitor for the vendor can provide undertakings to obtain necessary consents or approvals, pay outstanding bills or debts, and resolve legal disputes after closing.

Step-by-step explanation:

A solicitor for the vendor can undertake several tasks after closing that cannot be completed prior to closing:

1. Undertaking to obtain necessary consents or approvals: For example, if the vendor needs permission from the local zoning board to modify a property, the solicitor can provide an undertaking to obtain this approval.
2. Undertaking to pay outstanding bills or debts: If there are any outstanding bills or debts that need to be settled after closing, the solicitor can provide an undertaking to ensure that these are taken care of.
3. Undertaking to resolve any legal disputes: If there are any legal disputes arising after closing, the solicitor can undertake to resolve them on behalf of the vendor.