My question involves real estate located in the State of: Owner of property lives in Florida, but property in question is in Copan, Honduras. I am seeking opinions and legal advice based on US or international law as I'm at my wit's end regarding this deal. I do not know anybody in Honduras and have contacted appraisals, attorneys there, but none reply.
I traded my Argentine farm @ 18k cash plus 3 Copan lots with this American living in Copan. Agreement with him paying the transfer fee etc, was signed in Mar 2011 with 1 year expiry. During these times, buyer never disclosed about foreigners not being able to buy land in Copan as it is near to the Guatemala border and the size also exceeded the 3000 sq meter limit foreigners can own. Even till now he still says he will transfer the lots to my name.
Based on US law, am I obligated to accept the lots even though the buyer never disclose important info about
foreigners' law which is important factor for my decision. Can I terminate the agreement based on the non-disclosure?
Buyer has yet to complete the sale by paying the balance 10k before Mar 2012.
Hope someone could help or comments with suggestions.