In Florida, there is no duty of a real estate developer to disclose to prospective residential purchasers information about the neighborhood that may adversely impact property values, according to the court in Luis Virgilio v. Terrabrook Vista Lakes L.P., et al. , Case No. 11-11027 (5/18/12). In reading an overview of the case, this situation is very fact intensive and could vary from state to state based upon the peculiarities of state specific laws.
The court appeared to make its decision based upon:
- the type of relationship the party at risk had contractually; and
- the nature of the statements