Specific Performance

In the context of a Uniform Sales Contract for Real Estate, "specific performance" refers to a legal remedy that requires a party to fulfill its obligations under a real estate sales contract as outlined in the agreement. If one party breaches the contract, the non-breaching party may seek specific performance as a remedy.

In other words, if a party fails to complete the sale of a property or fails to pay the purchase price as outlined in the contract, the non-breaching party may ask a court to order the defaulting party to fulfill its obligations under the contract. The court may then issue a judgment requiring the defaulting party to complete the sale or pay the purchase price, effectively enforcing the terms of the contract.

This remedy of specific performance is often sought in real estate transactions because money damages may not adequately compensate the non-breaching party for the loss of the specific property. By requiring the defaulting party to fulfill its obligations under the contract, specific performance provides the non-breaching party with the remedy of having the contract fulfilled as originally agreed upon.