Caveat Emptor is a Latin term that means “let the buyer beware.” Similar to the phrase “sold as is,” this term means that the Buyer assumes the risk that a product (or land) may fail to meet the Buyer’s expectations. In other words, the principle of caveat emptor serves as a warning that Buyers have no recourse with the Seller if the product does not meet their expectations.

This principle is particularly useful to neighbors who purchased or inherited their land AFTER the 2012 land redesignation at Chinook Ridge.  The obligation to check the zoning on neighboring properties was/is the obligation of their realtor or themselves PRIOR to purchasing their property.

The term is actually part of a longer statement: Caveat emptor, quia ignorare non debuit quod jus alienum emit (“Let a purchaser beware, for he ought not to be ignorant of the nature of the property which he is buying from another party.”) The assumption is that Buyers will inspect and otherwise ensure that they are confident with the integrity (and zoning for nearby properties) of the product (or land, to which it often refers) before completing a transaction.

Caveat Emptor in Practice
Under the principle of caveat emptor, for example, a consumer who purchases a coffee mug and later discovers that it is the color blue and not red as they wanted. Had they inspected the mug prior to the sale, they may have changed their mind and not mad the purchase.

This audio clip is extremely important as you can listen to the Administration’s 3-minute opening remarks and description of the purpose for the Redesignation application- to develop Chinook Ridge Lodge & Golf Course.  The speaker is Rick Michelanko, RVC Planner.  Chairing the Hearing was Reeve Ashdown.

Audio Player