Class Exercise – Module 8 – Real Property
Harvey sold his house to Jane under a real estate purchase agreement signed by both of them and prepared by a real estate agent. The sale was scheduled to be completed July 1st. When the date came and Jane was in the process of moving in, she noticed that a fancy, large dining room chandelier was missing and was replaced by a smaller and much less fancy light fixture. She calls the real estate agent, furious at both Harvey and the agent, and demands that the original chandelier be returned.
What are Jane’s rights in this situation? Discuss.
Lindsay owns a house and lot, and gives a mortgage on the property to Darryl in return for a loan. Lindsay later sells the house and lot to John, with John taking over (assuming) the mortgage payments. A year later, John defaults in his payments under the mortgage. What can Darryl do?