If I bought a tract of land to build on but was never told of the deed restrictions at closing, do I have any recourse?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If I bought a tract of land to build on but was never told of the deed restrictions at closing, do I have any recourse?

Asked on January 13, 2012 under Real Estate Law, Indiana

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If you purchased land with certain deed restrictions upon it and were not advised of the deed restrictions upon by the seller before escrow's close, you may have legal recourse to rescind the purchase of the tract or keep it and sue for the difference between what you paid for it and what it was worth.

However, you would be deemed to have been on actual notice if you received a preliminary report concerning the land that you purchased mentioning the deed restricctions that you are writing about. If you received a title insurance policy for the property at close, then most likely you received a preliminary report. If the report mentions the deed retsrictions, then your claim for damages would seem to be in jeopardy.

Likewise, if you received an appraisal before close and the appraisal mentions the deed restrictions, you are deemed to have been on actual notice of the issue before close of escrow.

I recommend that you consult with a real esate attorney about the matter you are writing about.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption