Alabama Court Declares Buyer Beware Valid Legal Principle - By: Paul Wise

Real estate law is interesting owing to all of the several nuances involved - between the states, on top of it all! For example, in Alabama, it's not possible to rescind your purchase even in cases of seller fraud - yep, even if it is clear from the evidence that deliberate fraud was involved! Alabama case law takes the old byword "buyer beware" very seriously - rather literally, indeed, with regards to sales of used realty. In Teer v. Johnston, the court determined that although the defendant made a false pre-sale disclosure warranting something that isn't true, the defendant also cancelled that discloure (which means everything relating to it, including its very claim to veracity) through the provision of an "as-is" clause in the actual sales contract. Bottom line: buyer has no legal recourse for recovery despite the misrepresentation - despite any misrepresentation - as long as an as-is clause has not been challenged in the sales contract or the deed to the property when in Alabama!

Subtleties abound in life, and the law is no different: that as-is clause would have been no good at all had the misrepresentation involved an unobservable defect that might harm health or safety. Such subtleties are what make housing law so fascinating, and why there are a great deal of blogs devoted to the latest cases involving housing law from across the country. By regularly following such websites, one does not have to be a professional developer such as Isaac Toussie to be able to appreciate all the feasible pitfalls that can exist where realty transactions are involved! In fact, anything as definitely complex as a real estate deal will require much thought as a matter of course, and the informed consumer will contact any number of properly licensed and otherwise qualified professionals when coming to any decision of consequence, from brokers and agents to lawyers and appraisers.

About the Author

Paul Wise is a prolific writer on real estate topics, with insight on the industry comparable to insiders such as Isaac Toussie and others.

Article Directory Source: http://www.articlerich.com/profile/Paul-Wise/44507

Additional Articles From - Home | Finance | Real estate