Buyer's Attempt to Rescind Sale Over Undisclosed Mortgage
Synthèse Legislator
Généré par l'IAA buyer, having contracted to purchase a property, discovered a mortgage encumbrance on the title after the contract was signed but before the final deed, and subsequently sought to have the sale rescinded based on a unilateral mistake regarding the property's freedom from charges, arguing the undisclosed encumbrance constituted a fundamental defect; however, the court dismissed the buyer's claim, reasoning that the discovery of a pre-existing, undisclosed mortgage did not constitute an impediment to the transfer of property itself, as the seller remained legally capable of transferring ownership, and thus the contract could not be voided solely on the basis of this discovered charge, which could be addressed separately or assumed by the buyer.
Regeste Legislator
Généré par l'IABuyer's Attempt to Rescind Sale Over Undisclosed Mortgage: A buyer, having contracted to purchase a property, discovered a mortgage encumbrance on the title after the contract was signed but before the final deed, and subsequently sought to have the sale rescinded based on a unilateral mistake regarding the property's freedom from charges, arguing the undisclosed encumbrance constituted a fundamental defect; however, the court dismissed the buyer's claim, reasoning that the discovery of a pre-existing, undisclosed mortgage did not constitute an impediment to the transfer of property itself, as the seller remained legally capable of transferring ownership, and thus the contract could not be voided solely on the basis of this discovered charge, which could be addressed separately or assumed by the buyer.