Kevin is purchasing a pre-1978 home in Baltimore City. His contract includes a lead paint inspection contingency. The inspection reveals the presence of lead-based paint in deteriorated condition. Kevin notifies the seller within the contingency period requesting remediation. The seller declines to remediate. Under Maryland law and contract principles, which of the following is Kevin's most appropriate course of action?
Correct Answer
B) Kevin may void the contract and receive a full refund of his earnest money deposit under the lead paint contingency
When a contract contains a lead paint inspection contingency and the inspection reveals lead-based paint in deteriorated condition, and the seller refuses to remediate, the buyer has the right to void the contract and receive a full refund of the earnest money deposit. Maryland's lead paint laws (Md. Code Ann., Env't §§ 6-801 et seq.) impose significant obligations on property owners, and the presence of deteriorated lead paint is a material defect that triggers the buyer's contingency rights. Kevin properly invoked the contingency, so he is entitled to exit the contract.
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Related Topics & Key Terms
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Related Concepts
Specific performance is a court-ordered remedy that compels the breaching party to fulfill their obligations under the contract rather than simply paying monetary damages. It is an equitable remedy used when monetary damages would be inadequate.
The Statute of Frauds is a legal requirement that certain types of contracts must be in writing and signed to be enforceable. In real estate, all contracts for the sale of land or interests in land must be in writing.
A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.
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