From a large 300 acre plot, 6 acres, 'fully licenced' was purchased early 2006.
After contract signed, the license turned out to be have expired in 2003.
To renew, the environmental department required some serious infrastructure on the entire 300 acres from the original owners. A permit for the smaller 6 acres were issued in 2007, but remained SUBJECT to the infrastructure required from the landowner.
It now appears that the sellers started incorporating their large plot of land from private ownership into a Ltd company only around the time of the sale. And not until after the sales, they started applying for their new license.
It was obvious that they lured the buyers into the contract using lies, half truths and misrepresentation. By the time they finally managed to get their license renewed, the buyer had los so much money that he was unable to buy the 3rd part of the land (as per contract). That was the time that the sellers took the buyer to court, claiming 'break of contract'.
Any suggestions on how to getout of this?
After contract signed, the license turned out to be have expired in 2003.
To renew, the environmental department required some serious infrastructure on the entire 300 acres from the original owners. A permit for the smaller 6 acres were issued in 2007, but remained SUBJECT to the infrastructure required from the landowner.
It now appears that the sellers started incorporating their large plot of land from private ownership into a Ltd company only around the time of the sale. And not until after the sales, they started applying for their new license.
It was obvious that they lured the buyers into the contract using lies, half truths and misrepresentation. By the time they finally managed to get their license renewed, the buyer had los so much money that he was unable to buy the 3rd part of the land (as per contract). That was the time that the sellers took the buyer to court, claiming 'break of contract'.
Any suggestions on how to getout of this?
