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Buyer of Residential Income Property’s Easiest Way to Cancel Sale Without Breaching Contract

After a entering into a residential income property purchase agreement (as set forth in C.A.R. Form RIPA), a buyer retains substantial ability to cancel the agreement without the cancellation being deemed a breach of the agreement.  Smart buyers will want to make sure they understand their cancellation options before they sign the purchase agreement, so here is a quick run down of the easy/ most common ways to get out of the deal without breaching. Paragraph 18 of the C.A.R. form spells out the parties cancellation rights.  Generally speaking the buyer’s ability to cancel is linked to the buyer’s receipt of various disclosures and to the buyer’s release of certain contingencies.  These are a buyer’s easiest ways out the deal. Although, not within control of the buyer,

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Posted in Breach of Contract, Purchase and Sale

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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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