In Ballou v. Master Properties No. 6, the California Court of Appeal addressed a broker's allegations of
fraud against a seller of real estate.
Venezia v. Coldwell Banker Sammis Realty (270 A.D. 2d 480)- buyer's action against seller for fraud for failing to disclose toxic contamination of untapped ground water beneath the property and surrounding area dismissed; cause of action against brokers severed; buyer's claim of
fraud against seller was extinguished upon closing as a result of specific merger clause in contract of sale; moreover, buyer's failed to allege that seller made any representation about the condition of the land's subsurface or groundwater and did not allege that seller engaged in concealment or otherwise deceitful conduct designed to prevent the discovery of such contamination; seller is under no duty to speak; salesperson of one of the defendant real estate agencies represented to buyer that the house was in good condition
Not exact matches
Entrepreneur: What can
sellers do to protect themselves
against fraud?
Appraised value is often used directly by mortgage lenders to make sure a loan issued
against the property is not inflated and to prevent
fraud from buyers and
sellers working in collusion.
Vermont Life Insurance
sellers can also rely on the Code to protect them
against consumer
fraud.
South Carolina Life Insurance
sellers can also rely on the Code to protect them
against consumer
fraud.
Prosecuted breach of financial warranty and
fraud claims
against, and obtained eight figure settlement from,
sellers of various private manufacturing companies.
South Carolina Life Insurance
sellers can also rely on the Code to protect them
against consumer
fraud.
Vermont Life Insurance
sellers can also rely on the Code to protect them
against consumer
fraud.
Further, the court ruled that since the
seller didn't seek damages, but rather wanted to rescind the sale, the
seller had no basis to assert
fraud against the broker, who wasn't a party to the purchase agreement.
The
sellers claimed
fraud, negligent misrepresentation, and breach of fiduciary duty
against the buyer and the buyer's representative, arguing that the buyer did not make a good faith effort to secure financing, and that the buyer's representative failed to notify the lender that the
sellers had agreed to lower the purchase price.
In Newell v. Krause, the Supreme Court of Kansas addressed a broker's claims of
fraud against a buyer, a
seller, and related corporations.
In Bartsas Realty, Inc. v. Nash, the Supreme Court of Nevada reviewed the dismissal of a broker's claims
against a property
seller for: (1) tortious interference with contract; (2) breach of oral agreement; and (3)
fraud.
A Maine federal court has considered whether a
seller of a vacation home can successfully allege
fraud against a broker when the only remedy sought by the
seller was rescission of the purchase agreement between a buyer and
seller.
The buyer brought suit
against the
seller, claiming
fraud and failure to comply with the state's disclosure statute.
Stephens v. Sponholz (251 A.D. 2d 1061)- purchaser's causes of action
against seller for
fraud and negligent misrepresentation stand; the «as is» and general merger clauses of the purchase agreement are not specific disclaimers and do not preclude a cause of action based upon
fraud in the inducement of the contract; issues of fact remain as to whether
seller made express fraudulent representations concerning water in the basement of the house or actively concealed the problem and whether purchaser could have discovered the defect by the exercise of reasonable diligence.
Delano v. Umbreit (10 Misc.3 d 1054A)-- cause of action exists
against seller in
fraud where
seller elects not to provide PCDS and provides $ 500.00 credit and after such election makes a false representation about the heating system and concealed the true condition of the heating system (
seller installed dummy heating vents in walls, lied about it post contract and later admitted knowing about the subterfuge).
Troiano v. Tuccio (227 A.D. 2d 467)-
fraud; disclaimer provision in sales contract between purchaser and
seller does not inure to benefit of broker; complaint
against broker alleging broker fraudulently induced purchaser to purchase property is reinstated.
The Buyer filed a multicount lawsuit
against the Buyer's Representative, Listing Broker, and the
Seller alleging violations of the state's property condition disclosure law,
fraud, breach of contract, negligence, and deceptive trade practices.
One of the claims made
against both licensees was that the Buyer's Representative and the
Seller's representative had failed to register their business names with the Secretary of State and thus violated the state's consumer
fraud statute.
The Buyers spent over $ 20,000 remedying these problems and then filed a lawsuit
against the
Sellers alleging breach of contract and
fraud.