Articles from July 2003

SELLER’S FAILURE TO DELIVER TRANSFER DISCLOSURE STATEMENT TO BUYER GIVES BUYER THE RIGHT TO CANCEL THE PURCHASE EVEN THOUGH BUYER INTENDS TO DEMOLISH THE BUILDING

Monday, July 14th, 2003

The California Court of Appeal in the 4th District ruled on July 7, 2003 that a seller’s failure to deliver a TDS disclosure statement gave the buyer the legal right to cancel the purchase even though buyer was unconcerned with the condition of the residence because buyer was purchasing the property as-is, and intended to demolish the residence and replace it with a commercial building. Realmuto v. Gagnard 110 CA4th 193 (2003).

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