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Home / Courts / 4th Circuit / Real Property – ILSFDA – Rescission – First Impression — Prejudgment Interest – Developer’s Exemption Inapplicable (access required)

Real Property – ILSFDA – Rescission – First Impression — Prejudgment Interest – Developer’s Exemption Inapplicable (access required)

Nahigian v. Juno-Loudoun LLC A Northern Virginia couple can get back their $1.674 million purchase price for a lot in a residential community affiliated with the Ritz-Carlton Hotel company; the 4th Circuit says the buyers can rescind the deal under the Interstate Land Sales Full Disclosure Act and get more prejudgment interest because the developer is not protected by an ILSFDA exemption for developments with less than 100 lots.

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