Reply to Legal recourse over below market home sale?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]As anyone who has completed their 1L property and contract classes will tell you, real estate transactions need to be in writing, and as a general rule of contract law, when there is a written instrument, verbal promises made alongside it are considered null and and void. [/quote]

As soon as I read OP’s post I immediately thought MYLEGS. :lol:

I’m sorry OP, that is shady, but absent a contract there isn’t much your friend can do. The only exception I could think of is if some sort of fraud was involved to create the sale or your friend was too mentally incapacitated to enter into a contract. But that is exceedingly hard to prove.[/quote]

Agree with this. Your friend should contact a local real estate attorney, but they’ll likely need to prove fraud or incapacitation (there’s another possibility or two), but pp’s are correct that transactions in real estate must be in writing and oral agreements are generally not enforceable. [/quote]

Real estate attorney here.

A real estate contract for sale of property definitely has to be in writing which most lawyers here seemed to remember. But what they all forgot was the doctrine of merger. Absent express agreement otherwise the contract ceased fo exist at the time the deed was executed as the contract merged into the underlying fee interest.

The likelihood of recourse here is virtually zero. If your friend is mentally incapacitated or very elderly there might be some chance.

That said, do you know the condition of his house when he sold it. Are you certain it went for $125k below value based on its condition?[/quote]

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