Posts tagged "rescission"

Rescission For Real Estate Misrepresentations Is Back

If undisclosed defects are bad enough that the buyers really don't want the property, rescission should be available and may be a better remedy than selling the property at a large loss and then waiting to see whether the loss can be collected from the sellers. In some cases, like the June 23, 2015 case of Wong v. Stoler, when the property is unsalable, because of the nature of the undisclosed defect, rescission may be the best and even only realistic remedy. In many cases, the judge, the mediator and the lawyers give up on rescission as impractical. After Wong v. Stoler, rescission is again a realistic remedy.