Real Property Sales Loss
Many people encountered economic hardship and loss when trying to sell property along the Gulf Coast region after the DWH Oil Spill. The court-supervised settlement program provides compensation for eligible claimants who suffered this type of loss.
An eligible claimant is a seller of a “Residential Parcel” with the Real Property Sales Compensation Zone (See map here). The property owner must have owned the property on April 20, 2010 and commenced a contract for the sale of that home or other residential property that meets the following criteria:
- The sales contract must have been executed on or after April 21, 2010 and the sale must have closed between April 21, 2010, and December 31, 2010; or
- The sales contract was executed before April 21, 2010 but the contract price was reduced as a result of the DWH Spill and the sale must have closed during the April 21, 2010 to December 31, 2010 time period.