NO DUTY TO DISCLOSE - Why you should choose your Buyer Agents Carefully
By Debbie Walsh, Hudson Valley NY Real Estate 845.283-3036
(SHAHAR Management)
The following is an excerpt from a court case in which a court ruled that the seller bank HAD NO DUTY TO INFORM THE BUYER that the city had previously purchased a portion of the property. No Duty to Disclose Prior Purchase A Missouri court considers whether a lender had to disclose that the city had purchased a portion of the front yard in order to widen a road. ABN AMRO Mortgage Group, Inc. (“Lender”) obtained a residential property through foreclosure after the prior owner had defaulted. Prior to the default, the city of Kansas City, Missouri (“City”) had purchased 30 feet of the property in order to widen a two-lane road to four lanes. The deed of release from the purchase was recorded in the recorder’s office. The Lender was aware of the City’s purchase, as it received a portion o...
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