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News Place Developers LLC v. Reese

The trial court did not err in finding that the plaintiff's rescission of his contract to purchase a condominium unit was effective, as the defendant failed to comply with all of the terms of the purchase agreement and the Georgia Condominium Act.

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On appeal from the trial court’s grant of summary judgment to plaintiff John S. Reese on his claim to recover earnest money for a condominium he had agreed to purchase, defendant News Place Developers, LLC, argues that a material issue of fact remains as to whether Reese’s rescission was effective. We disagree and affirm. On appeal from a grant of a motion for summary judgment, we review the evidence de novo, viewing it in the light most favorable to the non-movant, to determine whether a genuine issue of fact remains and whether the moving party is entitled to judgment as a matter of law. Rubin v. Cello Corp ., 235 Ga. App. 250 510 SE2d 541 1998.

So viewed, the record shows that on June 27, 2007, Reese entered into an agreement to reserve a Savannah condominium unit offered by News Place and paid $10,000 to secure that reservation. On February 15, 2008, Reese executed a purchase agreement concerning Unit A-2. The purchase agreement provided that Reese had “at least” 14 days after News Place provided Reese with certain documents required by the Georgia Condominium Act, OCGA § 44-3-70 et seq., to rescind the agreement, and that if no rescission took place, Reese would then pay the remainder of the purchase money, amounting to $19,200.

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