Virginia Complaint for Specific Performance of Real Estate Contract
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How to fill out Complaint For Specific Performance Of Real Estate Contract?
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FAQ
With Assuming the deal is not contingent on another sale, and the seller wants out in order to get a better deal or simply changes their mind, the buyer has a remedy in the form of a suit in court for specific performance, seeking a court order requiring the seller to perform as the seller originally contracted to do.
Finally, the plaintiff must show that there is no other adequate remedy at law. Specific performance is typically awarded when money cannot adequately compensate the injured party and when the contractual obligation is unique or difficult to value.
A plaintiff is more likely to obtain an order of specific performance in a real estate sale dispute than in many other types of litigation actions. That is because of the inherently unique nature of a parcel of real estate.
The most common cases where specific performance is applied is in real estate litigation where a reluctant seller (or buyer) can be ordered by the court to complete the sale transaction. This is called specific performance.
Buyer's right to specific performance or detinue. (1) Specific performance may be decreed where the goods are unique or in other proper circumstances. (2) The decree for specific performance may include such terms and conditions as to payment of the price, damages, or other relief as the court may deem just.
The purpose of a specific performance clause is to provide protection for both parties to a contract or agreement when simple monetary compensation would not be adequate. This could involve the purchase or sale of unique property such as real estate, artwork, or other valuables.
?(1) Except as otherwise provided in this Act, specific performance of a 1[contract shall], be enforced when the act agreed to be done is in the performance wholly or partly of a trust. (2) A contract made by a trustee in excess of his powers or in breach of trust cannot be specifically enforced.