Posted on: 19th Nov, 2008 09:48 pm
My husband and I purchased property from the seller using a warranty deed. 4 years later we are now tring to sell the property, but we just found out that there has been leins on the property that have added up to half of our selling price. Would this be consided a breach of contract? The seller failed to mention these leins and we did not go through a title company. Dumb move. Could I sue? and what is the statue of limitions on this?
Hi arnew,
It looks like a breach of contract as because the seller didn't inform you about it. You can sue the seller in this regard. The SOL or Statute of Limitations vary from one state to another. Usually it ranges from 4-6 years for written contracts. So, you'll have to check out the state SOL and then proceed to take legal action.
I've also shared my views at http://www.mortgagefit.com/know-how/about5840.html where you have posted earlier. Just have a look at it.
Thanks
It looks like a breach of contract as because the seller didn't inform you about it. You can sue the seller in this regard. The SOL or Statute of Limitations vary from one state to another. Usually it ranges from 4-6 years for written contracts. So, you'll have to check out the state SOL and then proceed to take legal action.
I've also shared my views at http://www.mortgagefit.com/know-how/about5840.html where you have posted earlier. Just have a look at it.
Thanks
A deed is not a contract, so it would not be a breach of contract. However, a Warranty Deed does warrant title, so your cause of action would be for breach of warranty. The statute of limitations starts to run from discovery of the breach, and is usually 4 years.
From what you have said, you could recover from the seller the amount of the liens. Consult with a local real estate attorney immediately.
From what you have said, you could recover from the seller the amount of the liens. Consult with a local real estate attorney immediately.
I just have a question to ask.
If the deed was already transfered to the buyer's name is it still possible to cancel it since I haven't sign any contract from the land owner.. The land owner said that we have to do the notary since the deed was already transfered but I refused to do it. And I dont want to get the lot anymore due to some informations about the property that I lately find out..I already made a down payment and I am really worried that they said I will be facing a breach of contract if I cancel it..
I hope you can help me..
Thanks in advance..
If the deed was already transfered to the buyer's name is it still possible to cancel it since I haven't sign any contract from the land owner.. The land owner said that we have to do the notary since the deed was already transfered but I refused to do it. And I dont want to get the lot anymore due to some informations about the property that I lately find out..I already made a down payment and I am really worried that they said I will be facing a breach of contract if I cancel it..
I hope you can help me..
Thanks in advance..
Hi Dimples,
If you and the land owner haven't signed any contract or agreement, then I don't think you will face any legal hassles if you cancel the deal.
Thanks
If you and the land owner haven't signed any contract or agreement, then I don't think you will face any legal hassles if you cancel the deal.
Thanks