Rescission of Florida Real Estate Contracts
FL RE rescission: contractual (inspection/financing contingency), statutory (Section 718.503: condo 3-day; TILA: refinance 3-day), or equitable (fraud, mistake). Johnson v. Davis: sellers must disclose all material facts not readily observable; failure = rescission grounds even in "as is." Remedies: deposit return, expense recovery, and fraud damages (actual + punitive).
Grounds
- Contractual contingencies
- Statutory: condo, TILA
- Equitable: fraud, mistake
Johnson v. Davis
- Disclose all known material facts
- Not readily observable by buyer
- Applies even in "as is"
Remedies
- Deposit return, expense recovery
- Fraud: actual + punitive damages
- Restore pre-contract positions
Related Terms
- Rescission — Overview
Barnes Walker Real Estate
Barnes Walker’s attorneys handle RE rescission in Florida. Request a legal inquiry for assistance.
Reviewed by the attorneys at Barnes Walker, Goethe, Shea & Robinson, PLLC