Seller Non-Disclosure of Registered Permit Restriction Upheld
Synthèse Legislator
Généré par l'IAA seller of commercial property, having failed to inform the buyer of a municipal building permit restriction that significantly reduced the property's value, was sued for the resulting diminution in price, but the appellate court annulled the initial judgment finding the seller liable, reasoning that since the restriction was publicly registered and therefore legally presumed to be known by all parties, the seller had no specific obligation to disclose it, a decision that the highest court ultimately upheld by rejecting the appeal.
Regeste Legislator
Généré par l'IASeller Non-Disclosure of Registered Permit Restriction Upheld: A seller of commercial property, having failed to inform the buyer of a municipal building permit restriction that significantly reduced the property's value, was sued for the resulting diminution in price, but the appellate court annulled the initial judgment finding the seller liable, reasoning that since the restriction was publicly registered and therefore legally presumed to be known by all parties, the seller had no specific obligation to disclose it, a decision that the highest court ultimately upheld by rejecting the appeal.