Press Release (ePRNews.com) - FAIRFAX, Va. - Mar 31, 2021 - Attorneys Faisal Moghul and Terry L. Fox’s latest co-publication titled “Caveat Emptor vs Seller Disclosure in Residential Real Property Conveyances” was featured in The American Law Institute’s The Practical Lawyer, April 2021 edition. The American Law Institute Continuing Legal Education (“ALI-CLE”) is a premier national provider of quality CLE products to lawyers since 1947 that delivers an array of legal seminars featuring the country’s leading law practitioners, law professors, government regulators, and industry experts (www.ali-cle.org).
Fox & Moghul is a Fairfax, Virginia-based boutique litigation firm that handles complex real estate and commercial disputes, including residential purchase and sale, or caveat emptor, litigation. Given the sheer number of disputes that the firm handles in this area of the law, attorneys Fox and Moghul co-authored this publication with the goal of demystifying the variety of complex laws and regulations that govern such transactions.
“Buyers and sellers of real estate in Virginia are often caught off guard by the complexity surrounding residential real estate transactions,” said Terry Fox, senior counsel at Fox & Moghul. In addition to Virginia common law, buyers and sellers are often subject to certain statutory requirements like the Virginia Residential Property Disclosure Act (the “VRDPA”), the Virginia Property Owners Association Act (“VPOA”), among others. Thus, “the goal of this article,” said Fox, “is to provide both buyers and sellers of used residential real estate in Virginia a clear legal framework for evaluating problems that arise in such transactions.” Fox has also previously taught Continuing Legal Education seminars on complex title-related disputes in real estate transactions.
Whether someone is a buyer or seller or an agent or broker involved in the purchase and sale of used residential real estate in Virginia, this article discusses important considerations that should be taken into account before consummating any residential real estate deal. Among other things, the publication discussed the legal standard incumbent upon buyers with respect to pre-purchase due diligence on one hand and the disclosure duties upon sellers on the other. Particularly important in this respect are issues like “latent versus patent defects,” AS-IS contractual risk allocation clauses, and the mandatory statutory disclosure requirements that apply to real estate sellers.
For anyone interested in reading the full article, please click here or visit the website at www.moghullaw.com. To discuss this article further, please contact the office at 703-652-5506.
Fox & Moghul - Attorneys at Law