Farnsworth/Samuel Ltd. v. Cervini

GULOTTA, Judge.

This is a concursus proceeding involving conflicting claims to money deposited under an agreement to purchase or sell real estate. In a summary judgment ordering a refund of the deposit to the buyer after the act of sale failed to pass, the trial judge concluded that the agreement was a nullity because the buyer had been unable to satisfy a suspensive condition of obtaining mortgage financing to purchase the property. We reverse and remand.

On September 26,1983, Warren A. Cervi-ni, III agreed to purchase a house owned by Harold B. White, Jr. for the sum of $142,000.00 on the…