Recent Answers to Real Property Law Questions

Damien B.

Answered Dec 3, 2024

Hello! My name is Damien Bosco, Esq. My law office is in Long Island City, across from Manhattan. A seller's ability to back out of a real estate purchase agreement after signing it is generally very limited, as contracts for the sale of real estate are legally binding once both parties sign it. The seller's ability to back out typically depends on the specific contingencies outlined in the agreement. For instance, if the contract includes a contingency that hasn't been satisfied (e.g., the buyer's financing falls through), the seller may have grounds to terminate. You may want an attorney to review the Agreement to see whether there is a potential breach of contract claim. Feel free to reach out.

Arthur S.

Answered Sep 3, 2024

A contract "purchaser" has definite rights under its contract to purchase the property. The contract is binding on both parties. Every contract is different...and some do contain provisions entitling either part to terminate the contract on the occurrence of certain events or prior to the expiration of certain time period,,,,but it would be unusual for a contract to entitle a Seller to terminate in the absence of Purchaser's breach or the occurrence of a specified event. Assuming your contract (i) does not entitle your seller to simply walk away from his obligations under the contract simply because he no longer wants to sell to you (in this case, because he received a higher offer), and (ii) does not prohibit the commencement by you of a "specific enforcement" action to force your Seller to transfer title to you in compliance with the contract enforce, then, and in such event, you are entitled to commence an immediate action to specifically enforce your rights under the contract. Further, concurrently with the commencement of such action, you are also entitled to immediately file a "lis pendens" against the property pending the outcome of your action. A lis pendens is a notice to the world (filed against the property) that you have commenced an action to enforce your contract....and anyone acquiring title to the property after the filing of the lis pendens does so subject to your superior right to title acquire title. The filing of a lis pendens is a very powerful tool and effectively tells all other prospective buyers of the property that they would be doing so at their own risk.

Arthur S.

Answered Aug 7, 2024

HOA resolutions are generally enforceable if they are reasonable, clear and comply with state and local laws. They cannot override state or federal laws. In NYS HOAs are generally governed by the NY Business Corporation Law and NY Condominium Act. I would need to know more about the scope of the Resolution and the process used to pass it before I would be able to provided advice as to viability.

Moss S.

Answered Jun 14, 2024

It all depends on the contingencies that are contained in the agreement. Some of those contingencies include an inspection, financing, title defects and more. I would have to review the agreement to let you know precisely what rights that you have to terminate the transaction.

Jon F.

Answered Jun 11, 2024

No. You would need to have every owner sign away on their ownership. There is no way to divest people of their property without them knowing absent some kind of fraud. The quitclaim deed doing what you described in the way you described it can be challenged and should be challenged successfully.

Sarah S.

Answered Nov 3, 2023

As long as you have an accepted offer the contract is valid and enforceable, regardless of the purchase agreement date; However, if there is a termination clause in the agreement or any language that might trigger termination after expiration, then the contract might be invalid. You need a lawyer to thoroughly review the contract.