So I found out today that my partner sold the land two months ago.I did not have the deed recorded because it was notorized. But it meets all the other deed requirements. Of the $400,000 I invested, he is offering me $200,000, with a $200,000 loss on the land that I did not approve sold.My attorney is asying that I have the documentation to sue my partner for misrepresentation. But it might take a yer to get a judgment and get money.Thoughts?
State/Country relating to question: Texas
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Good afternoon. Your partner is going to be liable for more than just the loss because he is guilty of fraud. He basically sold something he did not own. Not only do you have a civil suit for fraud, which will entitle you to your actual damages, but it will also entitled you to punitive damages. You also have the option of contacting the district attorney's office to pursue criminal fraud prosecution as he clearly knew he did not own 100% of the property, yet intentionally proceeded to sell 100%.
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Texas lawyer for 32 years; Also RE developer
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