What happens if a real estate contract is breached?

In Texas, a breach of contract occurs whenever one of the parties to a real estate contract fails to fulfill their obligations under the contract. If a breach of contract occurs, the injured party may file a legal claim for damages. Typically, the injured party can recover two types of damages in real estate litigation: compensatory damages and consequential damages. Compensatory damages are designed to reimburse the injured party for any financial losses they suffered due to the breach. This includes reimbursement for any repairs that were needed to fix the issue, as well as any costs the injured party may have incurred attempting to resolve the situation. Consequential damages take into account any future losses that may be incurred due to the breach of contract. This includes lost profits, lost business opportunities, lost time, and other intangible losses. In addition, the Texas Uniform Commercial Code also allows injured parties to recover punitive damages if the breach was particularly egregious. In addition to damages, the injured party may also be able to recover specific performance. This is a court order requiring the party who breached the contract to properly perform their duties. This is only an option if damages or other remedies are not sufficient to make the injured party whole. In any case of real estate litigation, it is important to seek legal advice from a qualified attorney. An experienced attorney will be able to help you determine what damages and remedies may be available to you.

Related FAQs

What is the effect of a real estate lien foreclosure?
How can I protect myself from a real estate dispute?
What is the role of a real estate agent in a real estate dispute?
What is a landlord's responsibility in a real estate dispute?
What are the legal rights of a tenant in a real estate dispute?
What are the different types of real estate dispute damages?
What is a fraudulent conveyance and how does it affect a real estate dispute?
What is a real estate lien and how can it affect a dispute?
What are the defenses to a real estate contract?
What happens if a real estate dispute is not resolved through negotiation?

What happens if a real estate contract is breached?

Related FAQs

Related Blog Posts