In real estate sale transactions, the fiduciary seller faces potential liability from both the buyers and the beneficiaries. This presentation is a case study of a real scenario of a well- meaning trustee’s sale of a residence, the subsequent lawsuit, and six figure settlement resulting therefrom. The facts and circumstances of Arias vs. Trustee will be scrutinized to understand what caused the buyer to file a complaint for 1) Breach of Contact; 2) Fraud; and 3) Negligent Misrepresentation and what caused the trustee to have to personally pay out an approximate $700,000 settlement.
EB 6 – Case Study Exploring The Limitations Of The Exempt Seller In The Sale Of Real Property
Speakers
Ruben Martinez
Fiduciary Real Estate Service Services
https://fiduciaryrealestateservices.com/
As a top performing broker-agent with at the largest real estate brokerage in Newport Beach, Ruben opened Fiduciary Real Estate Services (FRES) in 2001 and focused exclusively on servicing the Fiduciary Client. FRES has tailored the sale of the real property to meet the unique requirements of the Fiduciary Client. FRES staff is trained to understand the differences in the Client’s roles as Trustee, Executor, Conservator, Receiver, and Bankruptcy Trustee.
Ruben earned his CCIM designation as a Certified Commercial Investment Manager…commonly referred to as the MBA for commercial brokers. Ruben calls upon his corporate experience working in Real Estate Sales and Construction Management for large corporations including Pepsi-Co, the Los Angeles Times and Jack-In-The Box to mentor his staff and to ensure physical issues at properties are identified and addressed.
Teresa Gorman
Fiduciary Real Estate Services
https://fiduciaryrealestateservices.com/
Teresa Gorman is licensed as a Trust & Estate Specialist attorney by the State Bar of California. Teresa is also a Real Estate Broker. Teresa is an adjunct professor at UC Riverside teaching Trust Administration.
Teresa was the founding attorney of a boutique law firm representing Private Professional Fiduciaries for almost 20 years. Teresa’s law practice included extensive trial work in the area of Trust & Estate litigation, trust administration, conservatorships, estate planning and probates. Teresa represented Private Professional Fiduciaries in complicated cases. Teresa was regularly appointed by the Court to serve as court-appointed counsel and Guardian ad Litem.
In 2018 Teresa sold her law practice and joined Fiduciary Real Estate Services. Teresa brings an experienced legal eye to the real estate transaction protecting the fiduciary client from potential claims from buyers, tenants and beneficiaries in Trust & Estate real property transactions.