In April 2022, Peterson, Martin & Reynolds LLP obtained a Final Arbitration Award for residential real estate clients in the amount of $2,159,692. In 2016, PMR’s clients had purchased a 3,139 square foot home in an upscale neighborhood in Lafayette, California. The home was built in 1947, and was sold as being on a private, secluded and secure 1.4 acre lot. The seller of the lot failed to disclose that a pathway that ran through the property had served for decades as a popular, well-travelled trail to the surrounding community. The purchase contract called for arbitration of any disputes. PMR’s lawyers filed for arbitration on behalf of the clients, alleging non-disclosure by the seller. After an 8-day arbitration hearing, the Arbitrator found the seller had intentionally failed to disclose the public’s historical use of the pathway through the property, and awarded $2,159,692 to PMR’s clients, including compensation for diminution in value, loss of use and enjoyment, out-of-pocket remodeling expenses, and attorney fees and costs.
https://www.pmrlegal.com/wp-content/uploads/2022/08/images_blog_default.jpg 667 1000 Peterson, Martin & Reynolds LLP http://www.pmrlegal.com/wp-content/uploads/2022/07/logo.png Peterson, Martin & Reynolds LLP2022-04-20 02:00:512022-08-04 14:03:47Peterson, Martin & Reynolds LLP Wins $2,159,692 Arbitration Award for Residential Homeowner Clients