Misrepresentation Involving 1031 Exchange


A buyer, who claimed that the seller of two apartment buildings misrepresented the condition of the properties purchased in connection with a § 1031 exchange, contacted Larkin Hoffman about the matter. The Larkin Hoffman team, led by Jim Susag, represented the buyer in a four-day jury trial and received a jury verdict in the client’s favor finding fraud against the seller. The seller had liquidated all of its Minnesota-based assets and resettled in Florida. After the defendant refused to pay the judgment, collection pursued in Florida and the client received full payment.