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Retaining deposit when the buyer fails to complete (Solid Rock Investments v Reddy)

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Published on: 09 November 2016

Published by a LexisNexis Property expert

Table of contents

Original news
What are the implications of this case for lawyers?
What was this case about? Why is it significant?
How helpful is the judgment in clarifying the law in this area? Are there any remaining grey areas?
How does this case fit in with other developments in this area of law? Do you have any predictions for future developments?

Article summary

Property analysis: When must a property seller return the contractual deposit when the buyer fails to complete? Kate McCall, partner at Shoosmiths, says a recent ruling clarifies how the courts will approach a buyer’s application for the return of a deposit where it failed to complete—and only in exceptional circumstances will the deposit be returned.

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