What constitutes a defect in real property?
Article Abstract:
Laws requiring property sellers to disclose material physical defects in a home are being expanded through litigation to require disclosure of psychological facts affecting the home's value, such as murder, AIDS infection of previous occupants or the presence of ghosts. Inconsistent state case law, especially in the area of AIDS, has left sellers and their agents unsure about their duty to disclose non-physical facts. States need to adopt legislation that will temper the right to privacy and the right not to be discriminated against in housing with the duty to disclose property defects.
Publication Name: Real Estate Law Journal
Subject: Real estate industry
ISSN: 0048-6868
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Past or present environmental contamination: another disclosure duty for a real estate broker?
Article Abstract:
Real estate brokers may have a duty to buyers to disclose knowledge of environmental contamination, even if the pollutants have been removed. The 1992 Grube and the 1995 Strawn decisions imply that residential brokers, lenders, and sellers may have a duty to make these types of environmental disclosures, which traditionally have concerned commercial brokers only. The actual knowledge standard on environmental disclosures previously applicable to residential brokers is changing, so all environmental issues should be investigated and disclosed.
Publication Name: Real Estate Law Journal
Subject: Real estate industry
ISSN: 0048-6868
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Habitat modification revisited: Supreme Court upholds government's right to regulate private property use
Article Abstract:
The Supreme Court's decision in Babbitt overturned a D.C. Circuit' decision restricting the laws protecting endangered species, and granted a broad definition of the term 'harm' in the Endangered Species Act. The decision is seen as a major blow to the property rights movement, who had sought to establish a limited definition of 'harm' through such litigation. Critics claim that the decision will all but halt land development, putting thousands out of work.
Publication Name: Real Estate Law Journal
Subject: Real estate industry
ISSN: 0048-6868
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Liability to a third party for a faulty environmental assessment of real property. The U.S. Supreme Court gives standing to property owners under the Endangered Species Act
- Abstracts: Consultants partnering with real estate to write environmental success stories. Iowa: the smart state for business
- Abstracts: Single-tenant properties add stability to real estate portfolios. Underwriting and valuing co-op debt and equity
- Abstracts: Limited liability companies: a new opportunity for real estate investors. Landlord/tenant partnerships: tax, business, and accounting considerations
- Abstracts: Roll-up transactions: the current picture. Current value accounting for real estate tax-exempt entities. Income tax consequences of real estate loan workouts: cancellation of debt