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About This Blog
Welcome to the Snell & Wilmer real estate litigation blog. Check back here often for useful news and information about current topics involving real estate litigation. We hope that you will find the blog both timely and helpful, and we invite you to join the discussion by posting comments about the articles and contacting the authors with your thoughts about the posts.
Real Estate Litigation Group Members and Blog Contributors
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Recent Posts
- If You Purchase a House at an HOA Lien Foreclosure, Are You Entitled to Excess Sale Proceeds?
- Airbnb Declares End to Party!
- Short-Term Rental Legislation & Litigation On the Way!
- Foreclosure Deficiency: Construction Loan vs. Home Improvement Loan
- Know your Obligations: Colorado’s Statutory Expansions of the Implied Warranty of Habitability Are Now in Effect
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Purchase Options: Strict Compliance Required
By: Kevin Parker
In a rising real estate market, we tend to see more disputes relating to purchase options. Given the increase in value, the property owner would rather avoid the option and sell at a higher price. The option holder can make a large profit by simply exercising the option. In 2003, the Arizona Supreme Court set forth many important legal principles relating to option contracts in real estate transactions. In Andrews v. Blake, 205 Ariz. 236, 69 P.3d 7 (2003), the lessee of a plant and tree nursery had an option to purchase the property for $300,000. The owner/landlord claimed that the lessee failed to timely exercise the purchase option. … Read More »
Author:
Kevin Parker
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Tagged option contracts, Purchase options, real estate litigation
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