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by CareyBot

DEAR BOB: I purchased a new home to be completed next April or May. The price and terms are locked in. But my plans have changed and I will be moving away from the area. When I asked the developer about assigning my purchase contract to a friend who wants to take over, the developer pointed to a clause that says the home cannot be sold within 12 months of completion. Is this legally enforceable? – Robb C. DEAR ROBB: Many developers and home builders include such resale prohibition clauses to prevent buyer speculation, especially in the first phase of a new subdivision. Let's put it this way: I am not aware such clauses are illegal. Purchase Bob Bruss reports online. However, I am not aware of any appellate court decisions allowing enforcement of such clauses in court. After your n...