Lawyers can take action through real estate litigation to address fraud involved in selling or renting real estate property. Because real estate is typically your most valuable asset, you stand to lose a lot as a victim of fraud or when wrongly accused of fraud. Working with a skilled law firm can be essential to protecting your investment.
The New Jersey legislature passed the Consumer Fraud Act to protect consumers against misrepresentation, deceptive business practices and deliberate omissions of fact that mislead consumers in the advertisement or sale of real estate. The act applies to the sale and also renting of real estate property. When you are a consumer fraud victim, courts can make the defendant compensate you for the financial loss, order payment of treble the damages as a punitive award and also require payment of court costs and attorney fees.
Gennari v. Weichert C. Realtors is an example of a case in which the defendants misrepresented the housing development and also omitted material facts. Real estate agency Weichert represented builder Rumberg as having built hundreds of high-quality homes throughout New Jersey. The truth was he had always worked under the supervision of others, and his workmanship was defective. The homes in the lawsuit had inadequate heating systems, roof problems, pipes that lacked insulation, improper foundation waterproofing, uneven floors and inadequate air conditioning systems, and completion was delayed. The realtor led prospective buyers to believe that she knew the builder’s workmanship, and her advertising described Rumberg as “an exacting and demanding builder of real substance.” This promotion was misleading. The court found Weichert Co. Realtors and Rumberg and his wife guilty of consumer fraud and held that the Rumbergs were subject to punitive damages.
If you have concerns about real estate sales, purchases or rentals, a skilled New Jersey real estate litigation lawyer can advise you about your prospects for pursuing real estate litigation.