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In the United States, most homes [1] are bought and sold using real estate agents affiliated with the National Association of Realtors (NAR), an industry lobbying group with over 1.5 million individual members. [2] NAR permits only its members to call themselves Realtors.
An action in misrepresentation can only be brought by the misled party, or "representee". This means that only those who were an intended recipient of the representation may sue, as in Peek v Gurney, [51] where the plaintiff sued the directors of a company for indemnity. The action failed because it was found that the plaintiff was not a ...
The Illinois Attorney General is suing a real estate developer who it says collects money for investment but then uses the money to take out loans or buy cars, and doesn't pay back what's owed.
After the sale, it was discovered that the real estate agent had misrepresented that 900 trees belonged to the property, representing 25% of the property. Sharplin sued for misrepresentation. Held
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Stambovsky v. Ackley, 169 A.D.2d 254 (N.Y. App. Div. 1991), commonly known as the Ghostbusters ruling, was a case in the New York Supreme Court, Appellate Division.The court held that a house, which the owner had previously advertised as haunted by ghosts, was legally haunted for the purpose of an action for rescission brought by a subsequent purchaser of the house.
Fraud or misrepresentation: Claiming your father was tricked or misled, or their signature was forged. Improper execution: Contending the will wasn’t signed or witnessed correctly.
So where there is a sudden downturn in the property market, a person guilty of deceitful misrepresentation is liable for all the claimant's losses, even if they have been increased by such an unanticipated event. [7] This is subject to a duty to mitigate the potential losses. [8] Contributory negligence is no defence in an action for deceit. [9]