Sheridan plans legislation to protect home buyers
From the WCLO newsroom:
Representative Mike Sheridan of Janesville wants to tackle a recent state supreme court decision that rules home buyers cannot sue a home seller if they knowingly misrepresent their property.
Sheridan says the ruling adds more doubt into the marketplace in the time of a severe housing crisis. He says this will become a priority after the first of the year. He says if there is no punishment for knowingly deceiving a home buyer, then it only seems to reason such abuses will increase.
He and other lawmakers will be working the the Wisconsin Realtors Association and Wisconsin Association for Justice.
Aug 1, 2008 at 8:27 p.m.
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Next time there is a housing boom or any other boom, maybe legislators will investigate the boom before the bubble burst.....all of this is a little too late for many....jmo
Aug 1, 2008 at 4:49 p.m.
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Gazette: "...a recent state supreme court decision that rules home buyers cannot sue a home seller if they knowingly misrepresent their property."
Majority Opinion: "Clearly, purchasers have adequate contractual and statutory remedies, if needed."
I'm confused.
Could someone explain? Is the court stating that Residential Real Estate transactions are contracts and therefore a matter of contract law and a purchaser could sue for breach of contract?
Aug 1, 2008 at 10:20 a.m.
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Here's the linik to the court case:
http://www.wicourts.gov/sc/opinion/Displ...
Aug 1, 2008 at 5:41 a.m.
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If I may make a suggestion: It would be nice to have a link to the Wisconsin Supreme Court decision when displaying articles like this.
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