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Started By
Message
O-T Lawyers/Contract question
Posted on 5/30/14 at 9:19 am
Posted on 5/30/14 at 9:19 am
Are post sale restriction clauses in purchase agreements enforceable?
For example, purchaser agrees to not sell, or transfer property within three years of closing date.
For example, purchaser agrees to not sell, or transfer property within three years of closing date.
4
Posted on 5/30/14 at 9:20 am to South Endzone
Is this for a home/business??? Just curious -- not a lawyer.
This post was edited on 5/30/14 at 9:21 am
Posted on 5/30/14 at 9:22 am to tiger91
quote:
Is this for a home/business??? Just curious -- not a lawyer.
raw land
eta: in an established sub-division
This post was edited on 5/30/14 at 9:23 am
Posted on 5/30/14 at 9:23 am to South Endzone
If you signed up for it then yes.
Posted on 5/30/14 at 9:23 am to South Endzone
Go
See
A
Real
Lawyer
See
A
Real
Lawyer
Posted on 5/30/14 at 9:24 am to South Endzone
Let's say the buyer purchases the land and decides to flip it within a few months. How is the seller going to enforce the clause? Would your answer be civil court?
Posted on 5/30/14 at 9:26 am to toosleaux
quote:
How is the seller going to enforce the clause?
Lawsuit
quote:
Would your answer be civil court?
Depends on the $ amount but yes
Posted on 5/30/14 at 9:27 am to South Endzone
is this another Road Home scenario?
Posted on 5/30/14 at 9:30 am to Wtodd
quote:
Lawsuit
Which would be dismissed.
Posted on 5/30/14 at 9:35 am to toosleaux
quote:
Which would be dismissed.
Would an injunction be denied if this clause is clearly being violated?
Posted on 5/30/14 at 9:41 am to mikelbr
Non-commercial, private, vacant property sales law is loose in regards to extending a contract provision. The key words here are vacant, private, and non-commercial without me getting cramps in my fingers from typing.
Posted on 5/30/14 at 9:43 am to mikelbr
Not a lawyer but had a crazy family member try to impose some post-sale restrictions on property I was buying from the family estate. My attorney, an actual Real Estate Attorney, told me straight up that those clauses don't fly in Louisiana.
Translation, go see an actual attorney who specializes in Real Estate law.
My crazy relative's lawyer, who specialized in Communications Law, got the schooling of a lifetime from my guy. It was like a verbal beat down and was well worth what I paid him.
Translation, go see an actual attorney who specializes in Real Estate law.
My crazy relative's lawyer, who specialized in Communications Law, got the schooling of a lifetime from my guy. It was like a verbal beat down and was well worth what I paid him.
Posted on 5/30/14 at 9:44 am to jbgleason
quote:
told me straight up that those clauses don't fly in Louisiana.
Bingo. And even less when pertaining to vacant land.
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