Va. Real Estate Law Doesn't Bar Private Suits, Court Says

Law360, New York (March 2, 2012, 8:06 PM EST) -- The Virginia Supreme Court ruled Friday that a consumer real-estate law doesn't bar private actions against sureties based on the law, siding with First American Title Insurance Co. in its dispute claiming Western Surety Co. breached a $100,000 surety bond.

In response to a certified question from the Fourth Circuit, the court acknowledged that the Virginia Consumer Real Estate Settlement Protection Act only allows licensing authorities to bring actions or issue penalties specifically under that law.

However, Virginia law does allow private suits against sureties based...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.