Holly Hill Holdings v. Lowman

The principal issue in this certified appeal is whether, under the circumstances of this case, an “as is” clause in a contract conveying real property precludes a transferee from prevailing on either a private right of action or a special defense based on a transferor’s noncompliance with pretransfer disclosure regulations. The plaintiff, Holly Hill Holdings, brought this foreclosure action against the defendants, George D. Lowman, A1 Aydagul and Klaus W. H. Beckmann,1 grounded on Beckmann’s default on a note and mortgage securing property that the plaintiff had conveyed to the defendants.…