A Legal Loophole The Size Of Alabama

No need to be an industry insider like Isaac Toussie to know that real estate laws throughout the country will vary. It's what makes real estate law so fascinating - as well as quite a challenge to stay on top of! Look at Alabama, for instance. In that state, "buyer beware" is held in a very, very high regard by the courts, such that even in cases of outright fraud buyers may have no legal recourse anyway - since the property is recognized as being sold on an "as-is" basis. Yes, it's true: Alabama case law takes the old dictum of caveat emptor very, very seriously, to the point of, in effect, allowing for otherwise illegal activity!

The Yellowhammer State takes the notion of "as-is" so literally that unless somehow superseded, the terms means exactly just that, even if the seller described the property with lies. In this particular case, a pre-sale misrepresentation was made that was only found out (that is, proven false) post-sale. Normally, this would constitute fraud, yet in the Heart of Dixie the as-is clause is king and must be specifically superseded by some other provision agreed to by seller and buyer - or the as-is clause will be taken literally!

That was an ambiguous situation in the eyes of Alabama law, but it should be noted that not everything is always as draconian as that. As if evidence of a peculiar regional preference for legal loopholes of all kinds, Alabama law will only hold such a strict view towards used property, not new ones. Another caveat to the caveat emptor ethos governing Alabama real estate is that misrepresentations that are not obvious but potentially harmful to health or safety will not be tolerated.

Alas for the plaintiff in Teer v. Johnston, however, while the misrepresentation was not something obvious it was not deemed harmful to health or safety, constituting an inconvenient nuisance instead. What plaintiff needed to have done was stipulating in the contract or the deed that pre-sale disclosures hold despite the sale!

About the Author:
Paul Wise enjoys visiting websites where professional such as Isaac Toussie discuss industry trends.

Article Originally Published On: http://www.articlesnatch.com

Tags: isaac toussie

, real estate

, business

, law

, ethics

, property

, fraud

, sales

, alabama

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