Comments on: Remedies for breach of land sale after exchange of contracts?

By: silly gorbie

silly gorbie — Tue, 13 Oct 2009 10:19:59 +0000

are you the vendor or the purchaser? If the vendor you can keep the deposit and sue for the remainder of the purchase price. If the purchaser you can kiss your deposit goodbye and may have to pay all of the purchase monies. You can but hope your vendor is an understanding person.
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By: on thin ice

on thin ice — Tue, 13 Oct 2009 09:59:59 +0000

I suspect this is probably an assignment you have to complete because if it was a real life situation, your estate agent, solicitor, conveyancing clerk, realtor or attorney, ( take your pick depending upon which country your are in ) would advise you. Any way I’ll try and point you in the right direction.
Esp for the UK a breach of contract will entitle either side to damages but exceptionally, in a situation where damages is not sufficient a purchaser can try an action for specific performance. That means the vendor trying to back out will have to complete the contract on the basis that the subject of the contract, ie. the land, is so exclusive and individual that damages is not a sufficient recompense. As in all legal problems a good place to start is the wording of the documents but they may not be conclusive.
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LLB ( Hons )

By: Huge

Huge — Tue, 13 Oct 2009 09:34:59 +0000

There should have been a deposit paid on exchange of contracts, this deposit is forfeit in the event of breach. If you are the vendor and no deposit was requested or paid then tough luck! If you are the buyer and you paid a deposit then failed to complete you have lost your money and the only recourse is to renegotiate if you can.
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By: Kathryn

Kathryn — Tue, 13 Oct 2009 09:17:59 +0000

Once you've exchanged contracts you're entitled to insist upon the redress stated within the contract. If you were given a deposit (i.e. if the land was mortgaged) you take that. If not you'll have to sue.
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By: FRAGINAL-NOYPI

FRAGINAL-NOYPI — Tue, 13 Oct 2009 08:57:59 +0000

File a civil case for the rescission of the land sale since it was a violation of your right. In the meantime, file an action for injunction to prevent the other parties from occupying the land.
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By: Colin M

Colin M — Tue, 13 Oct 2009 08:07:59 +0000

Legal advice
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