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Audio & Reference Manual

Rescission of Real Estate Contracts

Understand the procedural requirements necessary for rescission and when it is appropriate.

Rescission is one of the most powerful remedies available to a party who has suffered damages resulting from breach of contract or fraud. Rescission is one of the few remedies which allows parties to truly be restored to their respective positions before the alleged harm. In this practical topic, you will learn how to effectively assert, and defend against, this forceful weapon. After learning this information, you will be able to recognize when rescission is applicable and when it is inapplicable in the case of contracts for the sale of real estate. Additionally, you will be able to advise clients how best to perfect a claim for rescission and avoid taking action detrimental to such a claim.

Runtime: 89 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Nature of Rescission

  • Rescission vs. Cancellation
  • Truth in Lending Act and Federal 'Right' to Recission
  • State-Specific Statutory Periods for Rescission

Grounds for Rescission

  • Rescission Based on Contingency Conditions in Contract
  • Bilateral - Mutual Agreement Between Parties
  • Unilateral - Rescission Based on Misrepresentation, Fraud, or Breach of Contract

Notice Requirements

  • Proper Timing
  • Waiver Issues

Restoration Requirements

  • Return of Consideration
  • Potential Consequences of Pre-Rescission Home Improvements
  • Property Tax Considerations

Remedies and Recovery

  • Pleading Rescission
  • Restitution for Rescission Based on Misrepresentation
  • Consequential Damages
  • Equitable Relief Possibilities
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on November 9, 2017.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Sean E. Ponist

Sean E. Ponist

Ponist Law Group, P.C.

  • Founder of the Ponist Law Group, P.C.
  • Former prosecutor with the Marin County District Attorney’s Office and in-house counsel for Marcus & Millichap Real Estate Investment Brokerage Company
  • Successfully tried more than 30 cases to verdict
  • For the past seven years, Mr. Ponist has been recognized as a Super Lawyer
  • Recognized as being one of the Best of the Bar by the San Diego Business Journal
  • Litigation Counsel of America fellow, a trial lawyer honorary society whose membership is limited to less than one-half of one percent of North American lawyers, judges and scholars
  • Frequent speaker and has written numerous publications
  • J.D. degree, UC Davis School of Law; B.A. degree, UCLA
  • Can be contacted at [email protected]
Georgia Z. Schneider

Georgia Z. Schneider

Ponist Law Group

  • Attorney of the Ponist Law Group, P.C.
  • Focus on real estate and business litigation
  • Extensive experience in all aspects of litigation, from commencement through the development and implementation of a discovery plan
  • J.D. degree, summa cum laude, Southwestern Law School; B.A. degree, UCLA
  • Can be contacted at [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 395979
Published 2017
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