Being sued for allegedly failing to fulfill legal and/or professional responsibilities can be traumatic, time consuming and consequently, expensive. Legal proceedings involving relatively straightforward legal issues can morph into protracted and strenuous battles if not properly addressed from the beginning. Speaking to a lawyer before things take a contentious turn can help resolve issues that come up between real estate agents and brokers, buyers and sellers, and landlords and tenants. At Hoogbruin & Company, we see three common issues associated with legal disputes involving real estate.
Three common legal disputes involving real estate:
1. Breach of Contract
Examples of when a breach of contract may occur are:
- A buyer fails to complete a purchase in a real estate transaction
- A tenant breaks a commercial lease
- The landlord fails to give the commercial tenant quiet enjoyment of a leased premises
2. Failure to Disclose Property Defects
The term failure to disclose is used in real estate law to describe the action of a party who has refused to disclose essential information about a property to a buyer. Some property flaws can lower the market value of a residential or commercial building significantly, so the requirement of disclosure is important. See a related post on misrepresentation, both innocent and negligent.
3. Breach of Fiduciary Duty
Breaches of fiduciary duty in real estate transactions occur when real estate agents don’t act in the best interest of the clients; for instance:
- An agent receives secret profits or fees not disclosed to the client;
- An agent fails to inform a seller of other offers on the table after an offer has been accepted;
- An agent fails to advise a buyer of any material defects to the property.
Do you perceive that you have been wronged in your real estate transaction?
Would you benefit from the help of a real estate lawyer to navigate a transaction that is unraveling or a breach in your commercial lease agreement?
The lawyers at Hoogbruin & Company are experienced in real estate litigation and can help you decide on the best way to approach your case and get the best possible results. In this Hoogbruin & Company knowledge sharing series, we will continue to look at various types of breaches of contract.