Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Filled land is a piece of land whose grade, or in a layman’s term level, has been increased due to the accumulation of deposits of soil, clay, rocks, gravel, dump or dirt either naturally or through man-made processes. It is also one of the ways used to cover environmental dumps and to reduce non-degradable waste to make the land usable again for other purposes. This, however, is not a very conventional method but is often used.
A filled land may be created using various types of deposits including vegetation, tree trunks, soil etc. And such types of land require regular maintenance and need to be compacted regularly for safety reasons and can be an additional expense on the part of the buyer. Therefore it is important for the seller or the broker representing the seller to disclose such details before closing the deal otherwise the seller is entitled to sue them for damages in case they suffer any loss due to the non-disclosure of such details. Some other points to keep in mind while purchasing land are:
Someone who is looking to purchase the piece of land for construction purposes must take all reasonable measures to find out the type of dump, the depth of the dump, the date of it and whether or how the deposit has been compacted.
Lands deposited with vegetation, woods or tree trunks are not a suitable choice for construction as they would rot over the period, eventually bringing the grade lower. And in the case of trees, once they rot, they can leave a hollow behind which can in turn weaken the foundation of the building.
In the case of filled lands that have been in use for a long time, and have not experienced any adverse issues during that period, their sellers may not be legally required to disclose such filling.
