Legal Question in Real Estate Law in New Jersey

Real Estate-Deposit refund

8 years ago we were selling our home and the purchaser backed out days before settlement. They lied on their mortgage app and were given a mortgage program they did not want. We refused to refund the deposit and they refused to give it to us. Where is the deposit now? Can we still claim it? If so what do we need to do?


Asked on 12/27/07, 2:59 pm

1 Answer from Attorneys
John Corbett Corbett Law Firm LLC

Re: Real Estate-Deposit refund

Eight years is a long time and it may make enforcement of contractual terms impossible. However, if the money is being held by a fiduciary, it may still be reachable. If there is enough there to warrant going after, give me a call and we can discuss the details of the transaction.

See also: http://info.corbettlaw.net/lawguru.htm

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Answered on 12/27/07, 10:02 pm


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