Specific Performance Against Third Parties

Whenever we are presented with a new specific performance case on behalf of a buyer we always recommend that we immediately file a lawsuit so that we can record a lis pendens and help prevent the sale of the property to a third party without our buyer client’s knowledge. Sometimes, however, there are situations where the seller has already sold the property out from under the buyer without the buyer’s knowledge. In those circumstances, the question becomes whether the buyer has the right to enforce the purchase and sale contract and seek the property from the new buyer. In other words, what are the buyer’s rights when the seller conveys property to a third party?

The answer is – it depends on the status of the third party transferee (recipient). If the third party transferee (the new owner) is a bona fide purchaser, who has paid value for the property without notice of the prior purchase and sales agreement, then the buyer likely cannot obtain a judgment for specific performance against that bona fide purchaser.

However, if the new buyer is not a bona fide purchaser, the buyer can obtain a decree of specific performance against the new owner.

At Schorr Law, our real estate attorneys have experience with many types of specific performance matters. We even have experience litigating the status of whether a buyer is a bona fide purchaser. To inquire about a free 30-minute consultation, contact us today by filling out the contact us box on the right hand side of this page, by calling 310-954-1877 or by emailing us at info@schorr-law.com

By Los Angeles Real Estate Attorney Zachary D. Schorr.

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Posted in Lis Pendens, Purchase and Sale, Specific Performance

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Zachary D. Schorr has been named to the Southern California Super Lawyers (Rising Stars) list for attorneys in Real Estate for 5 straight years - 2012, 2013, 2014, 2015 and 2016. Each year, no more than 2.5 percent of the lawyers in the state receive this honor. In 2016 he was also included as one of the top 100 lawyers in Southern California in this category. The selection for this respected list is made by the research team at Super Lawyers.

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