Legal Question in Real Estate Law in Minnesota
Selling land with an easement
My husband and I sold a piece of property with an easement on it. The purchaser was made aware of the easement and was not concerned about it. The purchaser paid $500 down and gave $9500 at time of signing the contract. For the next two consecutive years he is supposed to make 2 more payments of $10000 plus interest. The adjoining land owner wants to cross or make use of the easement that exists and the new land owner doesn't want this to happen. Now the guy that bought our land and signed a contract 28 days ago wants to ''decline'' the purchase of the land and wants his money back. We have been trying to help him resolve this issue and have not been successful. Can he back out of this contract? Is this our problem or his?
2 Answers from Attorneys
Re: Selling land with an easement
Generally, a purchaser is only permitted to rescind a contract for deed where a seller has committed fraud or misrepresentation. Otherwise, the purchaser's failure to make the payments under the contract can result in cancellation of the contract and loss of any payments made to date. You need to consult with an experienced real property attorney who can review your contract and determine what your rights and obligations are under the circumstances of your case.
Re: Selling land with an easement
Since the easement was discoverable and not concealed by the seller, you have a valid an enforceable contract. Unfortunately, from a practical perspective, enforcing that contract may cost more than it is worth. When a buyer rescind's a contract for a reason not specified as a contingency, normally any earnest money paid is forfeited to the seller.
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