business law paula hog 1679757 2
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Class Exercise – Module 8 – Real Property
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Harvey sold his house to Jane under a real estate purchase agreement signed by both of them and prepared by a real estate agent. The sale was scheduled to be completed July 1st. When the date came and Jane was in the process of moving in, she noticed that a fancy, large dining room chandelier was missing and was replaced by a smaller and much less fancy light fixture. She calls the real estate agent, furious at both Harvey and the agent, and demands that the original chandelier be returned.
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What are Jane’s rights in this situation? Discuss.
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Lindsay owns a house and lot, and gives a mortgage on the property to Darryl in return for a loan. Lindsay later sells the house and lot to John, with John taking over (assuming) the mortgage payments. A year later, John defaults in his payments under the mortgage. What can Darryl do?
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