LAWFULLY SEIZED Sample Clauses

The "Lawfully Seized" clause establishes that a party transferring property or assets guarantees they have obtained and hold those assets in accordance with the law. In practice, this means the seller or transferor affirms that the property was not acquired through illegal means and that they have the legal right to transfer ownership. This clause is essential for protecting the buyer or recipient from future claims or disputes regarding the legitimacy of the asset's ownership, thereby ensuring a clear and lawful transfer.