This case involves a family who was subjected to the nondisclosure of material information in the purchase of real estate property. The defendant was the owner of the property. The subject property is a lot situated on the border of a large retirement community. One of the defendants purchased residential property adjacent to the plaintiff’s property. The retirement community decided to sell and rezone the property adjacent to the lot. The plaintiff had no idea that a piece of the retirement community’s property had been sold off and rezoned. It is alleged that the defendants failed to disclose that the adjacent property lot was other than presented and had, in fact, been sold and rezoned in such a way as to materially affect the value of the subject property and its use in an adverse manner.
Question(s) For Expert Witness
- 1. Do you have knowledge of the code of ethics for realtors (national/local)?
Expert Witness Response E-008612
I was the Real Estate Commissioner of the state in question for 6 years and have heard many disciplinary cases over the years. A majority of this time was devoted towards the ethics behind real estate, and I have created and implemented rules and regulations in the state that focused on those situations. If the seller knows there is going to be a rezoning, it should definitely be disclosed prior to the sale. I am licensed in multiple states and well aware of the code of ethics that should be in place locally and nationally.