Legal Question in Real Estate Law in Arizona

My husband purchased 20 acres in Arizona in 2005 just when his Alzheimers was beginning, he died 12-7-2010 and I have since found that the property he paid $385,000.00 for was only appraised at $36,500.00 in 2005. In 2006 our property taxes were $269.00 a year and now are $2500.00 per year. I was told by a Realtor that never has a property in that area sold for over $38,000 and that was for 15 acres in 2005. Do I have any recourse with my husbands agent or the listing agent. The property today I was told is only valued at $36,000.00 I think he was taken advantage of. This property in in Our A/B Trust which I am the trustee of. Any help or advice would be appreciated. I live in California.


Asked on 1/31/11, 7:12 pm

1 Answer from Attorneys
Donald Scher Donald T. Scher & Associates, P.C.

Your recourse depends upon your ability to prove facts that support a claim of fraud or mistake or that your husband lacked the capacity to make a purchase contract. Without more facts and some investigation, it is hard to assess the case. Another question is whether the realtor or realtors worked together to take advantage of your husband and whether the seller was in on the deal. It would seem that it is worth some expense and legal fees to investigate the facts further so that you can determine if it is worth it to you to risk the costs of suit to go after the broker(s) and any others involved in misrepresenting the value of the property to your husband.

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Answered on 2/08/11, 8:59 pm


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