Remedies on default or ending of sale of land contract

The guidance note on remedies on default or ending of sale of land contract provides a strategic overview of critical legal recourses available when a contract for the sale of land is breached or terminated. Practitioners must understand the spectrum of remedies, from damages to specific performance, and how contractual terms across jurisdictions influence these rights. This note highlights key legal developments, including jurisdiction-specific contract provisions that can significantly affect outcomes.

Topics Covered

• Key concepts and terminology for ending a sale of land contract
• Terminating a sale of land contract for breach
• Rescinding a sale of land contract
• Treatment of deposits following end of sale of land contract
• Specific performance
• Injunctions

Essential Insights

• Assess how damages vary before and after contract termination, influenced by the defaulting party's ability to remedy.
• Recognise jurisdictional variations in standard contracts that may cap damages or limit claim periods.
• Explore equitable remedies like specific performance and relief against forfeiture, noting complex case law nuances.
• Be vigilant of contractual clauses that restrict claims or shift liabilities, potentially affecting client strategies.
• Understand the strategic use of injunctions to prevent improper property dealings pending dispute resolution.