Answered You can hire a professional tutor to get the answer.

QUESTION

John and Janet Fonda, siblings and actors, decide to retire after years on the road. They remember a town in New Jersey they were familiar with from...

John and Janet Fonda, siblings and actors, decide to retire after years on the road. They remember a town in New Jersey they were familiar with from their travels. From the internet, they learn of a farm a few miles outside of town that seems ideal. There is a great house and lots of land. The Fondas wish to convert the farm to a restaurant-hotel with a dinner theater. They contact the realtor by phone, and make arrangements to buy the parcel. The Fondas plan on traveling to New Jersey prior to the closing to look things over, but are unable to do so due to their touring schedule. The realtor, whose commission is technically paid by the proceeds to the seller, and who has a listing contract with the seller, advises the Fondas that she will handle everything. New Jersey custom, law, and practice does not require a purchaser of land to have an attorney. The realtor does only the bare minimum needed for title to transfer to the Fondas. On their behalf, she only has a minimal title search and minimal inspections done, and she obtains a minimal coverage title insurance policy. As the area near the farm was once occupied by a large chemical plant, when the realtor represents local purchasers, as a precaution, she advises the buyers to get the maximum possible title search and title insurance, and to get all possible inspections done. It is her regular practice to caution local purchasers who she represents about the former chemical plant.After closing on the property, the Fondas learn of the old chemical plant. They seek your advice as to their liability and the liability of any other parties

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question