Quote:
Originally Posted by CU Tiger
Really?
I have never heard of a state that allows a manufacturers warranty to end at time of foreclosure. That would be a neat law.
So I sell you a product with a 10 year warranty the bank takes it (cause you dont pay) and I tell the bank F-off I wwont warrant anything for you... Not saying you are wrong, but I would really like to see this legislation...thats very odd to me.
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If you read the fine print of the warranties tied to home products, many times they are not transferable to a new owner.
The reasoning behind the foreclosure clause in particular in Texas was explained to me that if someone wasn't paying on their mortgage, they probably weren't spending any money on the upkeep of the house either. That tied with the amount of time a house sits empty with no use, inspection, or maintenance was enough to declare any warranties invalid. It was very much a pro-business law, not a pro-consumer law.