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Does arbitration clause cover real estate purchase?
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Court Report
Monday, January 2, 2017
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A couple who bought real-estate owned property sued the lender after finding that another bank had a superior lien on the property. The lender compelled arbitration on the dispute, following a clause in the purchase contract, and the couple disputed the order. The case came before the Supreme Court of Nebraska, which was tasked with deciding whether the arbitration contract fell within the scope of the Federal Arbitration Act, rather than the state’s Uniform Arbitration Act, and whether arbitration should be compelled on residential real estate transactions. Read on for the details.
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