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Monetary Damages as Part of a Specific Performance Claim

When the buyer is awarded specific performance of a purchase and sale agreement, the buyer is entitled to be restored to the position it would have been in had the contract been fully performed in a timely manner. Accordingly, a buyer who obtains specific performance is entitled to an accounting to determine the amount of the monetary award accompanying the specific performance decree.  This provision in the law is particularly applicable to buyer of rental properties who is entitled to the rents collected during the time that seller’s performance was previously due but not done. The accounting that accompanies a specific performance case does not just take into account the income that the buyer would have received it also must take into account the seller’s expenses

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Posted in Purchase and Sale, Specific Performance

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