Failure To Disclose Lawsuits
Whether it is called “fraud by concealment” or “fraud by misrepresentation” they are more commonly known as “failure to disclose lawsuits.” It is not uncommon for real estate purchasers to feel they are the victim of a seller who has been unscrupulous. These claims need the assistance of an experienced attorney specializing in real estate law. Read on to learn more.
You may only sue an individual for non-disclosure when they have a legal obligation to make a disclosure. The seller has legal duties to the purchaser because of their contract. Therefore it is important to realize a seller may have said or even written a true statement, however there may be underlying facts impacting the truth and accuracy of the statement. In circumstances where the seller is aware the buyer is purchasing under a belief that is in error, they have an obligation to ensure any mistake is corrected.
Liability is only created when there is a material non-disclosed fact. A judge, arbitrator or jury can determine whether the fact that has been omitted is a material fact.
Sometimes the seller may not know there is a problem, for example a roof may be leaking but it was not observable on the inspection or during a walk through. Fraud by concealment sometimes fails in circumstances where the buyer should have been aware of a fact that was concealed. often it might be in a document, or mentioned by a third party.
Attorneys who are not well versed in real estate transactions often fail to take into account all the aspects of these claims. Especially when it comes to the often comprehensive and more in-depth investigations that have to take place following a claim. Attorneys also find there are other issues between the people involved in the contract that may have not been disclosed to them when seeking assistance. Hence, an experienced attorney is necessary to maximize your chances of obtaining the best possible outcome.
Source: https://www.nolo.com/legal-encyclopedia/selling-my-house-if-i-fail-to-disclose-something-to-buyers-about-its-condition-will-they-sue.html
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Disclaimer: This Post Is Not Legal Advice.
You should not ever depend on an online post for legal advice as the law and codes changes often, information sometimes might not be accurate, there can be exceptions to the rule, and wholesale reliance on such matters could be damaging. Always consult with experienced attorneys for current, effective, and factual legal advice.