After settling claims with the seller, the plaintiffs brought
suit against the real estate representatives for negligence and breach of fiduciary duty.
Suits against real estate types certainly happen, but to what % of investors get sued and then what % lose, I think a house fire is more likely.
Not exact matches
As The
Real Deal previously reported, Lone Star filed a separate $ 37 million
suit against Vantage and New Jersey - based Normandy
Real Estate for four upper Manhattan apartment buildings.
Thus, by all means, mutual funds are more
suited to your generation as
against real estate that was
suited to parents.
The
suits are part of a suite of litigation filed by nine American cities
against big oil to pay for current and future damages to some of the most expensive
real estate in the country caused by rising seas and hotter weather.
Represented a fund in a fraud
suit against a national
real estate appraiser in connection with a master planned community that went bankrupt.
In addition to suing the
real estate entities and individuals involved in the transaction and the seller of the property, the business owners also brought
suit against the appraiser for negligent misrepresentation.
Real estate practitioners may also be able to get an insurer to defend
against excluded claims as part of a larger
suit.
As I began to stir, a news flash appeared before me, stating that there was to be a class - action
suit against some new
real estate company alleging false advertising due to the small print being misleading, something like Insurance policies.
Other legal issues that caused major concerns for property managers, according to the 2011 Institute of
Real Estate Management Legal Scan, include debt collection
suits, which increased 14 percent since the 2009 survey, and fair housing cases, which grew by 25 percent for racial discrimination and 60 percent for discrimination
against the disabled in that two - year period.
Real estate salesperson Jennifer Ames Lazarre of Coldwell Banker Residential Brokerage in Chicago says one of her buyer clients decided
against purchasing a $ 4 million home when the developer refused to remove the tub, which was too small to
suit the client's tall frame.
Most of these
suits are brought by a homebuyer
against the seller and all
real estate practitioners involved in the transaction.
Suits alleging a violation of Section 8 (b) of RESPA have been brought
against real estate brokerages that charge consumers a flat fee in addition to a percentage - based commission.
In Bloom v. Martin, several borrowers (Borrowers) brought a class action
suit against mortgage lenders alleging violations of the
Real Estate Settlement Procedures Act of 1974 (RESPA).
Kling
Real Estate, Ltd. v. DePalma (306 A.D. 2d 445)- summary judgment motion dismissing broker's complaint affirmed; broker's
suit for commission based upon two binder agreements fails where unilateral modification of the proposed contracts of sale by the prospective purchasers constituted a counter offer which the seller rejected; no cause of action exists for commission
against buyer in second transaction where sellers agreed to pay the brokerage commission
In 2011, there was a
suit filed
against the
real estate industry over the use of internet based mapping.
So in May of 2011, the Competition Bureau filed
suit against TREB, seeking access to
real estate information — like sold prices — that agents routinely hand out by phone, email and in person to clients.