Legal Question in Real Estate Law in Maryland
Buyer argues a Disclaimer & contract
I sold a house to a friend. He lived in the house prior settlement, and has been living in the home since he took ownership for over a year. We went to the bank together. We had no formal contract of sale, only verbal. The bank typed an agreement stating, parties involved, sale amount and other basic information. We both signed this document, I am having trouble locating my copy. He now is sueing me stating he did not know there was not a well on the property only a spring house. He also states that we did not have a contract? The purchase price was $80,000, he is sueing me for $30,000.
2 Answers from Attorneys
Re: Buyer argues a Disclaimer & contract
Under legal requirements, the property is required
to be recorded. The recordation is central to your
matter. Assurances of a well may or may not be
actionable depending on many factors. You need to
respond to the lawsuit and provide for your defense.
You may have a claim against him for, among other
things, the value of his occupancy of the property.
The transaction appears to have gone sour and
you need to protect your interest. Obviously the
transaction should have been properly effected and
this is a source of much of your problem. You should
acquire the service of an attorney to lessen the probability of
sustaining losses.
Re: Buyer argues a Disclaimer & contract
If there was a deed, it does not matter whether the prior contract was oral or written. And unless there was an express promise of a well that an inspection would not prove false, the fact that he thought there was a well is of no consequence. You need to see a lawyer who can review the land records and file a proper and timely response to the lawsuit.
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