Under New York law, the doctrine of caveat emptor, or buyer beware, applies to the purchase and sale of real property. Stambovsky v. Ackley, 169 AD2d 254, 257.
<i>Caveat Emptor</i> in the Purchase of New York Real Estate
Under New York law, the doctrine of <i>caveat emptor</i>, or buyer beware, applies to the purchase and sale of real property. <i>Stambovsky v. Ackley</i>, 169 AD2d 254, 257. Under this doctrine, which has undergone some recent modifications, the seller of real property is under no duty to speak (<i>ie</i>, make certain disclosures to the purchaser) concerning the condition of the property when the parties deal at arms' length. <i>Id</i>. Mere silence on the part of the seller concerning a defective or otherwise undesirable condition of the property, without some act or conduct that deceived the purchaser, does not amount to conduct that is actionable as a fraud.
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Michael Gordon And Diane Da CunhaThis premium content is locked for New York Real Estate Law Reporter subscribers only
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