Legal Question in Real Estate Law in New York
seller,s trying to back out of contract
Can a seller back out of a contract due to a medical condition? Seller says has dimensia and parkinsons, this is all after the fact that my approval to buy from the board was the same day this letter was sent out.
Asked on 5/17/07, 10:54 pm
1 Answer from Attorneys
Graig Zappia
Tully Rinckey PLLC
Re: seller,s trying to back out of contract
When you get down to it, unfortunately a seller may be able to get out of the contract. Depending upon the circumstances, a contract may not be legally binding on all parties if one of the parties "is not of sound mind." Some courts may agree with the seller that he did not have the capacity to enter into an agreement if his/her condition is that dire. If that is the case, the court may rule that the contract is invalid.
Answered on 5/18/07, 8:04 am
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