What triggers the granting of specific performance in a real estate context?

The granting of specific performance in real estate occurs when an adequate remedy at law is unavailable. Specific performance is a legal remedy that compels a party to fulfill their contractual obligations, typically seen in real estate transactions where the unique nature of the property makes monetary damages inadequate.

Real estate is considered unique because each property has distinct characteristics and values depending on its location, condition, and significance to the buyer. Therefore, if a seller breaches a contract by refusing to complete a sale, a court may choose to order specific performance, requiring the seller to go through with the transaction rather than simply awarding the buyer monetary damages, which would not equate to obtaining the property itself.

The other options focus on scenarios that do not directly relate to the unavailability of adequate legal remedies. For example, a buyer failing to make payments is typically treated through the application of a monetary remedy or possibly termination of the contract. A seller changing their mind may lead to negotiation or termination but does not automatically justify specific performance unless the facts suggest that the unique nature of the property makes money inadequate. Similarly, if the property value increases significantly, although this could evoke feelings of regret from the buyer, it does not alone justify the invocation of specific performance without considering the inadequacy of legal remedies