Articles on “Deposit”

DRE TAKES ACTION AGAINST BROKER FOUND LIABLE FOR FRAUD IN MISREPRESENTING THE SQUARE FOOTAGE OF A RESIDENCE

Tuesday, July 12th, 2011

Where a civil judgment for fraud based on misrepresentation of the square footage of a residence was entered in favor of a buyer against his real estate broker the broker’s real estate license may not be suspended by the Department of Real Estate unless the judgment is based on “clear and convincing” proof of fraud. Grubb Company Inc. v. Department of Real Estate 194 CA 4th 1494 (2011).

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A “NONREFUNDABLE” DEPOSIT NEVER IS

Thursday, February 17th, 2011

A deposit does not become “non-refundable” merely by labeling it as such.  To keep a defaulting buyer’s deposit, the seller must satisfy the statutory requirements for liquidated damages.  Kuish v. Smith (2010) 181 CA4th 1419.

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