Foundation Repair Warranty
Texas Foundation Warranty Trust
Over the years, many foundation repair contractors have gone out of business, leaving their customers with worthless warranties. The best example is the 1997 bankruptcy of Perma-Pile, in which the bankruptcy court voided the lifetime warranties of over 10,000 customers.
To provide customers with a greater level of security, the Texas Foundation Warranty Trust was established in 1993. The Texas Foundation Warranty Trust supports warranties issued by selected foundation repair contractors. The Trust only backs warranties issued by companies that have the highest standards of performance, the best quality control procedures, and the soundest finances. For companies’ warranties to receive the support of the Trust, in addition to maintaining the highest standards, companies must contribute a portion of their revenues to the Trust. So long as any warranty obligations are outstanding, the assets of the Trust may not be used for any purposes other than providing for warranties and for the expenses of the Trust. As of December 31, 1998, the Trust had assets of over $500,000.00. The assets of the Trust are currently increasing by more than $100,000.00 per year.
In the event that Advanced Foundation Repair ceases to conduct business, the Texas Foundation Warranty Trust will unconditionally back the foundation repair warranties issued by Advanced Foundation Repair.
Are you purchasing or selling a home covered by a Pro-Lift contractor issued warranty? Please note to keep the warranty in force, it must be transferred within 30 days of the purchase of the home.
To successfully transfer a warranty:
- Download the transfer form or contact the warranty issuing Pro-Lift contractor for a copy of the form.
- Submit the transfer form to the warranty issuing Pro-Lift Contractor.
- Pay the current transfer fee to the warranty issuing Pro-Lift Contractor.
If a warranty is not properly transferred, it expires and is not transferrable.