McMullen v. Sevigny (In re McMullen): Filing Disciplinary Complaint Does Not Violate Bankruptcy Protections
A federal appellate court has considered whether a consumer violated bankruptcy's automatic stay when the consumer filed a complaint with the state real estate commission against a licensee who was in bankruptcy.
An Arkansas court has affirmed an arbitration award resulting from an arbitration proceeding conducted by the Arkansas Association of REALTORS® ("Association").
David Vincent ("Developer") developed a residential subdivision. The Developer's wife, Teresa Vincent ("Salesperson"), was a licensed real estate professional associated with Re/Max Real Estate Professionals ("Brokerage"). In the "Independent Contractor Agreement" between the Brokerage and the Salesperson, the Salesperson was obligated to pay a fee for use of office facilities to the Brokerage and was responsible for all other expenses, such as license renewal fees and taxes.
A North Carolina court has considered whether a broker committed fraud when he failed to disclose to his client that property purchased by the client had been condemned and also that the broker was the owner of the property.
The federal tax court has considered whether taxpayer entered into legitimate 1031 transactions when taxpayer used a qualified intermediary in transactions involving third parties as well as two related corporations.
Teruya Brothers, Ltd. ("Teruya") entered into two four party 1031 exchanges. Times Super Market, Ltd. ("Times") was involved in both transactions. Teruya owned 62.5 percent of Times's common stock shares.
A Georgia court has considered whether statements made by a bank representative about the development potential for a parcel of land amounted to fraud.
An Illinois appellate court has considered whether a buyer could claim specific performance of a real estate contract based on a right of first refusal the parties had agreed to negotiate but had never reached an agreement on its specific terms.
Chabbott Petrosky, Commercial REALTORS®, Inc., v. Peterson: Quantum Meruit Recovery Possible When No Written Agreement
Delaware's highest court has considered whether a listing broker could receive payment when a lease transaction occurred, rather than the sale contemplated by the listing agreement.
A Connecticut court has considered whether a real estate licensee breached his fiduciary duty while serving as an escrow agent.
Steven Rocco and Jonathon Gottlieb ("Sellers") entered into a listing agreement with licensed real estate broker Eugene Hayber ("Licensee"). The Licensee marketed the property for sale, and the Sellers received an offer for the property. However, the interested buyers stated that their offer was contingent upon their home being sold. The Sellers agreed to this contingency, and the parties entered into a purchase agreement.
A Tennessee appellate court has considered a broker's lawsuit against a seller which sought to collect a commission from a sales price which was below the amount of the listing agreement.
In 1998, John Carter d/b/a John Carter Real Estate ("Broker") auctioned off a 29 acre property containing a home as well as farm buildings ("Farm"). The winner of the auction was Maria Patrick, her daughter Kelly Harris, and her daughter's husband Christopher Harris (collectively, "Owners"). The auction price was $131,000.