Legal Question in Real Estate Law in California
Cheated on land purchase
I supposeably purchased 2.5 acres, after having a surveyor out to mark the building site, it was discovered that the actual size of the land was 1.3 acres. purchase agreement indicated 2.5 acres. Advertised as 2.5 acres. Escrow closed jan. 2nd, 2005. what are my legal recourses and compensation
2 Answers from Attorneys
Re: Cheated on land purchase
If the facts you have stated are true, you have a right to cancel the transaction or rescind the contract, or alternatively sue for damages. We would have to review all of your documentation to be able to help you. We handle cases throughout California and have a number of cases in Santa Barbara courts.
Re: Cheated on land purchase
The agreements need to be reviewed. Even though said 2.5 acres, the agreements often say they are for a tract of land regardless of size. If this is not the case a demand and lawsuit is the course. The agreement may provide for Mediation and Arbitration, if those are valid, that is the method. As to value, what other property of like type goes for is a measure.
Joel
JOEL SELIK Attorney at Law
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