A Different Sort of Wet Basement Case
March 30, 2021 By Brian Babcock We see all too many cases where after a real estate deal closes, the buyer sues the seller (and often the realtor, home inspector etc.) because the basement flooded. These cases turn on evidence regarding disclosure, representations and duties. But it is different when the flood occurs before closing. […]
What is a “Quistclose Trust”?
March 30, 2021 By Brian Babcock A Quistclose trust is a trust created where funds are advanced to another person (or corporation) for a specific purpose, on the condition that they be used only for that purpose, and returned if they are not used for that purpose. The name comes from a British case where […]