Property Rights Foundation of America®

News Brief - Summer 2007:

Florida Home Buyers Cancel $41 Million in Sales After Public Access to Preserve is Disclosed
Miami-based Lennar Corp., one of the nation's largest home builders, offered to return deposits to 130 buyers and rescind contracts, with interest, after real estate broker Mike Morgan revealed that an adjacent nature preserve would require limited public access through the properties, according to an article by Michael Corkery in The Wall Street Journal on July 21st. A total of 114 buyers cancelled $41 million in sales by accepting the offer.

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