A condominium owner is facing a lawsuit after a couple attempting to purchase property from him says the man misrepresented himself. The couple is suing for breach of contract, which Florida residents understand is a serious charge in the business world. The case is currently being overseen in a state court in the state where the property is located.
According to the plaintiffs, they entered into a contractual agreement with the owner of a condominium in the southern United States, intending to purchase the property from him, on Jan. 16 of this year. The price they agreed upon, according to paperwork filed in court, was less than what was required to pay off the owner’s mortgage loan balance. Such a move requires the consent of the lien holder, which the suit alleges the owner did not arrange in a timely manner.
As a result of this alleged failure, the couple was forced to pay rent on the condo for a longer period of time than they had originally planned, forcing them to retain legal counsel. They are currently seeking an undisclosed amount, including court and other legal fees, damages and interest. The case is currently pending.
Contracts are legally binding agreements no matter where they are signed in the United States, including here in Florida. A breach of contract constitutes a failure to live up to legal obligations, and can carry a hefty financial consequence. In this case, if the condominium owner is found to have breached his contract with the couple aiming to purchase his property, he could be held fiscally responsible by the overseeing court.
Source: setexasrecord.com, “Dallas County couple trying to buy condo sues owner, claiming breach of contract“, Ben Hart, April 4, 2014