Courts order specific performance of real property contracts on the premise that each parcel is unique and damages are inadequate. The remedy requires a valid enforceable contract and the plaintiff's readiness to perform.
It is available to buyers and in most states to sellers.
Alternative Names:
Specific Performance of Real Estate Contract, Compelled Conveyance
Why it Matters?
The uniqueness presumption means a buyer need not prove damages are inadequate, which distinguishes real estate from other contracts. Seller-side specific performance is more contested, since a seller seeking the purchase price is effectively pursuing damages, though most states permit it. Contractual limitations restricting the buyer to deposit forfeiture may waive the remedy, which is a provision worth examining before assuming it is available.
Frequently Confused with
Related terms
Frequently asked questions
Why is specific performance available for real estate?
Can the remedy be contractually waived?
