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    Legal Issues: Real Estate purchase

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    Each of the following questions presents one or more legal issues. In your answers, state each legal issue succinctly, state the pertinent rule of law and explain how the rule applies. If a case from the textbook or other course materials is relevant, cite it and explain its application to the problem.

    4. Jack and Jill purchased a four-bedroom split-level from Mountain Homes, Inc. They had explained to Mountain's salesman that they intended to raise their children aged three and nine months, in their new home. The location seemed ideal, at the end of a cul-de-sac, and behind their back yard was the forty-acre estate of Daryl Pharr, a wealthy investor. The first Saturday night in their new home they were kept awake all night by loud music from the Pharr estate. They also smelled marijuana smoke wafting from the party through their children's windows. They soon learned that Pharr had a raucous party all night long every Saturday night and had for a long, long time. Jack and Jill consulted a lawyer. "If we'd known about Pharr's parties, we would never have bought this place," Jill wailed. What should their lawyer advise them?

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    Solution Preview

    Lawyer can advise the following to the buyer of this home, ie, Jack and Jill.

    Before a sale is complete, a seller must inform the buyer of anything that may interfere with the buyer's decision to purchase the home. A statement must be created a signed by the home seller and buyer listing all pre-existing faults or required information pertaining to the home. ...

    Solution Summary

    Legal issues and real estate purchases are discussed in the solution.