Kray Holdings, an Alberta-based bus iness, madean o ffer to purchase a luxury rental property inthe city of Van couver, which it planned tocontinue to use as a rental property, andprovid ed a $300 000 deposit. The seller, Chan,signed a property disclosure statementindicating she was unaware of material or latentdefect with respect to the property. Before theclosing date, Kray Holdings discovered thatChan's husband was a gang member and hadbeen munlered two years earlier on thesidewalk immediately outside the gate of theproperty. The murder remained unsolved. CanKray refuse to complete the sale and recover itsdamage deposit?
Kray Holdings, an Alberta-based bus iness, madean o ffer to purchase a luxury rental property inthe city of Van couver, which it planned tocontinue to use as a rental property, andprovid ed a $300 000 deposit. The seller, Chan,signed a property disclosure statementindicating she was unaware of material or latentdefect with respect to the property. Before theclosing date, Kray Holdings discovered thatChan's husband was a gang member and hadbeen munlered two years earlier on thesidewalk immediately outside the gate of theproperty. The murder remained unsolved. CanKray refuse to complete the sale and recover itsdamage deposit?
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Question
Kray Holdings, an Alberta-based bus iness, made
an o ffer to purchase a luxury rental property in
the city of Van couver, which it planned to
continue to use as a rental property, and
provid ed a $300 000 deposit. The seller, Chan,
signed a property disclosure statement
indicating she was unaware of material or latent
defect with respect to the property. Before the
closing date, Kray Holdings discovered that
Chan's husband was a gang member and had
been munlered two years earlier on the
sidewalk immediately outside the gate of the
property. The murder remained unsolved. Can
Kray refuse to complete the sale and recover its
damage deposit?
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