REAL ESTATE LAW QUESTION REGARDING A CONTRACT
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REAL ESTATE LAW QUESTION REGARDING A CONTRACT
IS THERE ANY LEGAL RAMIFICATIONS THAT “WE” AS SUBDIVISION PROPERTY OWNERS CAN DO TO THE SUBDIVISION OWNERS FOR AN INCOMPLETE SUBDIVISION (AS IS STATES IN OUR CONTRACT THAT IT IS A 4 PART PHASE TO BE COMPLETED BY 2008- THAT IS STILL TO THIS DATE ONLY 2 PARTS), UNCOVERED DITCHES AND SEVERAL OTHER THINGS?
Asked on June 23, 2009 under Real Estate Law, Louisiana
Answers:
B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney
Answered 14 years ago | Contributor
In most states, a contract to buy a house ends when the deal closes; accepting the deed usually means that the buyer is giving up any claims that the contract hasn't been kept. I'm not a Louisiana lawyer, and your state's law might be different; just as importantly, an attorney would have to read the whole contract to be able to give you reliable advice about whatever rights you might have from that language. One place to find a lawyer in your area is our website, http://attorneypages.com
In theory, you could be sue for being caused to buy the house based on a fraudulent representation about the rest of the subdivision, but that would probably require proof that the developer never intended to finish the job; that's hard to prove in most cases even in good times, and the collapse of the real estate market in the last two years might make it all but impossible.
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