Courtesy photo/Public Domain Remedies in Real Estate Transactions, Part 2: Specific Performance
Although most are familiar with the well-established axiom that real estate is a unique asset, it does not necessarily follow that specific performance is generally available for breach of an agreement that involves real estate. This article—the second in a four-part series on remedies in real estate transactions—will discuss why, and will suggest some ways parties can achieve more certainty in this regard.
May 02, 2023 at 10:00 AM
6 minute read
Both litigators and transactional lawyers know the basic drill: specific performance is available for breach of a contract whose subject matter is so unique that money damages will not adequately compensate the non-breaching party. All are also familiar with the axiom, well-established in New York law, that real estate is a unique asset. But it does not necessarily follow that specific performance is generally available for breach of an agreement that involves real estate.
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