Real Estate Newsletters
A breach of contract occurs in the event one of the parties to a contract fails to fulfill his or her part of the deal.
In 1968, Congress enacted the Interstate Land Sales Full Disclosure Act, 15 U.S.C.S. § 1701 (1998). In enacting the law, it was Congress' purpose to eliminate fraud in interstate sales of land. Briefly stated, the law requires certain disclosures in connection with the sale of vacant land. Despite numerous challenges since its enactment, the Interstate Land Sales Full Disclosure Act has passed constitutional muster.
A land installment contract, also known as a contract for deed, is a financing mechanism where title to real property remains in the seller until the buyer has paid the sale price of the property in full. The buyer is required to pay the sale price in installments over a period of years.
Real estate transactions present situations in which negligent misrepresentation can occur. Negligent misrepresentation, insofar as the area of tort law is concerned, is usually defined by state law.
For years, there was been widespread news coverage regarding the dangers of radon gas in the home. Radon gas is the second leading cause of lung cancer in the United States. It is invisible and has no taste. Accordingly, a specific type of testing must be performed in order to determine the presence of radon gas in the home.