mother sold lot way below market value

fredsmyth · Apr 21, 2005

What is the name of your state? NJ (Lot sold in Florida)

My mother who is 90 sold a undeveloped lot in Pt St Lucie Fla to someone who solicited her and told her it was worth $1000. This was roughly 3 years ago. She just told us and we believe the lot was worth appx $25K and likely much more now. Do we have any recourse to get the lot back, compensation, additional damages? thanks

PghREA · Apr 21, 2005

fredsmyth said:
What is the name of your state? NJ (Lot sold in Florida)

My mother who is 90 sold a undeveloped lot in Pt St Lucie Fla to someone who solicited her and told her it was worth $1000. This was roughly 3 years ago. She just told us and we believe the lot was worth appx $25K and likely much more now. Do we have any recourse to get the lot back, compensation, additional damages? thanks

Value is determined by what Buyers are willing to pay. If a buyer was willing to pay $1,000 for the lot and your mom was willing to sell her lot for $1,000, then there is not much you can do about it after the fact.

mother sold lot way below market value

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fredsmyth

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