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Property manager provided inaccurate governing documents to buyers. They would not have purchased had they known. Case? Remedies? Against who?

1 Answers. Asked on Jun 06th, 2017 on Real Estate - California
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Answered on Jun 08th, 2017 at 12:00 PM

The sellers had a duty to provide you with the correct governing documents. When you say "property manager," do you mean a person who managed the property for the sellers, or do you mean the manager who maintains the books and records and collects dues for the homeowners association ('HOA")? The sellers' property manager is their agent, and the sellers are liable for its mistakes. The sellers are not responsible for mistakes by the HOA's management company, and that management company has no relationship with you and owes you no duty.

How have you been damaged by getting the wrong governing documents? Our civil courts do not punish bad conduct. They compensate for injuries caused by bad conduct. The measure of damages is the difference between the fair market price if a reasonable person would have known about the change to the governing documents and what you paid. How much is that difference? If it would be very hard to calculate, then you might not have any damages.

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Dana Sack

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Real Estate
Real estate attorneys can help individuals, families and small business with all property-related legal issues. Buyers and sellers of residential and commercial real estate should work with an attorney to negotiate the terms of agreement; draft and review the contract; review related paperwork (such as loan agreements); clear existing liens on a property; and attend the closing. Lawyers can also assist property owners with addressing zoning/rezoning issues and appealing property tax assessment. Landlords and tenants should work with real estate law firms to draft and review lease agreement, handle eviction proceedings and resolve landlord-tenant disputes.
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