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Tag Archives: Real Property

With market still in the tank, real estate lawyers diversify (access required)

For many of South Carolina's real estate attorneys, the most recent housing and foreclosure reports probably won't boost their holiday spirits. Home sales plummeted nearly 26 percent statewide in October compared to a year ago, according to a report by S.C. Realtors. "I've been doing this for 17 years, and this is the worst I've seen this," attorney Trey Harrell (pictured), founding member of the Chapin firm of Harrell and Martin, told Lawyers Weekly in a recent interview. Harrell said that as recently as 2006, about 80 percent of the firm's business was connected to real estate. Now, that percentage has dropped to about 60 percent, he said. "If you're relying solely on real estate, you're asking for some sad times," he said.

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Real Property – Option Contract – Conditions Precedent – Failure to Comply – No Default (access required)

Alexander's Land Co. v. M&M&K Corp. The parties' option contract allowed the buyer to purchase real property where a restaurant was located if the buyer first bought the restaurant's assets and made an earnest-money deposit. The buyer's notice that it intended to exercise the option was ineffective since . . .

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