Latest Case: Conley v. Crown Realty, LLC (Real Estate & Property Law)

The Nature and Cost of Risk and Uncertainty

TAMAR FRANKEL

BU Law emerita professor Tamar Frankel discusses risk and uncertainty to explain people’s decision making as to investments. Frankel points out that people have varying degrees of tolerance for risk and uncertainty, due in part to cultural and individual differences.

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Conley v. Crown Realty, LLC

Docket: 19-66

Opinion Date: January 17, 2020

Judge: Francis X. Flaherty

Areas of Law: Real Estate & Property Law

The Supreme Court affirmed the decree of the superior court foreclosing Crown Realty LLC's right of redemption to real property that was the subject of a 2017 tax sale, holding that that the superior court justice properly entered a decree forever barring Crown Realty's right of redemption. Crown Realty was the owner of real property that was sold to Plaintiff at a tax sale conducted by the Town of North Providence. Plaintiff failed a petition to foreclose the right of redemption, citing a failure to any interested party to redeem the property. The justice determined that Crown Realty's right of redemption was barred. One week later, a final decree was entered foreclosing the right of Crown Realty to redeem the property. The Supreme Court affirmed, holding (1) Crown Realty's request that an exception to Conley v. Fontaine, 138 A.3d 756 (R.I. 2016), be applied in this case was misplaced; and (2) no implied-in-fact contract existed between the parties.