{"id":25219,"date":"2020-05-15T11:52:36","date_gmt":"2020-05-14T23:52:36","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=25219"},"modified":"2020-05-15T11:52:36","modified_gmt":"2020-05-14T23:52:36","slug":"south-australian-real-estate-agent-exploited-impoverished-vulnerable-pensioner-for-profit","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/south-australian-real-estate-agent-exploited-impoverished-vulnerable-pensioner-for-profit\/","title":{"rendered":"South Australian real estate agent exploited impoverished, vulnerable pensioner for profit"},"content":{"rendered":"<p><strong>PHOTO: The Supreme Court ruled that Mr Pitt had engaged in &#8220;unconscionable conduct&#8221; by exploiting a vulnerable pensioner for profit.<cite class=\"_3Jwd8 _20AiM _2v_Gr age8P _2Rt0o _27aqo\" data-component=\"Figure__cite\">(ABC News: Dean Faulkner)<\/cite><\/strong><\/p>\n<p class=\"_1SzQc\">The Supreme Court has found a South Australian real estate agent exploited an impoverished and vulnerable pensioner through property transactions, engaging in &#8220;unconscionable&#8221; conduct to secure large profits.<\/p>\n<section class=\"_2ybzm Es5LH _1LbdU _1bAUU q-cWK\" role=\"contentinfo\" aria-label=\"key points\" data-component=\"KeyPoints\">\n<h2 class=\"zT1nT _4Zpdk SelAj _1t9H3 _2-MxD lxkD- mSYxO age8P\" data-component=\"Heading\">Key points:<\/h2>\n<ul class=\"_3Crv1\" data-component=\"List\">\n<li class=\"\" data-component=\"ListItem\">Zane Pitt exploited an impoverished pensioner using property transactions<\/li>\n<li class=\"\" data-component=\"ListItem\">The 70-year-old widower needed to sell his house to move into a retirement village<\/li>\n<li class=\"\" data-component=\"ListItem\">Mr Pitt bought the property well below market value and his daughter re-sold it at significant profit<\/li>\n<\/ul>\n<\/section>\n<p>The court ruled that Adelaide real estate agent Zane Pitt had convinced a then-70-year-old widower, who had lost almost all his money to a gambling addiction, to sell his home for $85,000 less than it was worth before transferring the property to his daughter, Tarnia Pitt, who subdivided and sold it at a significant profit.<\/p>\n<p class=\"_1SzQc\">In 2012, Mr Pitt entered into an agreement with the pensioner, identified in the judgement only as Mr Hartwig, for the option to buy his property at Taperoo, north of Adelaide, for $200,000 during the subsequent four years.<\/p>\n<p class=\"_1SzQc\">Mr Hartwig, who possessed a &#8220;limited&#8221; education and a &#8220;negligible&#8221; understanding of property transactions, needed to urgently sell the property so he could move into a retirement village.<\/p>\n<div class=\"entry-featured-img-wrap\"><a class=\"entry-featured-img-link\" href=\"https:\/\/propertynoise.co.nz\/au\/this-brisbane-house-comes-with-a-lexus-car-for-free\/\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-hoot-medium-thumb  entry-content-featured-img entry-grid-featured-img wp-post-image\" src=\"https:\/\/i1.wp.com\/www.propertynoise.com.au\/wp-content\/uploads\/2020\/05\/8-Bloxsom-Street-Kedron.jpg?resize=460%2C270&amp;ssl=1\" alt=\"Lexus car for free\" width=\"460\" height=\"270\" \/><\/a><\/div>\n<div class=\"entry-grid-content\">\n<header class=\"entry-header\">\n<h2 class=\"entry-title\"><a href=\"https:\/\/propertynoise.co.nz\/au\/this-brisbane-house-comes-with-a-lexus-car-for-free\/\" rel=\"bookmark\">This Brisbane house comes with a Lexus car for free<\/a><\/h2>\n<\/header>\n<\/div>\n<p class=\"_1SzQc\">He had lived for many years in the house with his wife, who died in 2003.<\/p>\n<p class=\"_1SzQc\">After an inspection of the house found that it was not &#8220;fit for human habitation&#8221; and should be demolished, the pensioner agreed to reduce the sale price to $175,000 at Mr Pitt&#8217;s request.<\/p>\n<p>READ MORE VIA <a 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Supreme Court ruled that Mr Pitt had engaged<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/south-australian-real-estate-agent-exploited-impoverished-vulnerable-pensioner-for-profit\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":25220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478106162,478098512,478098521,478098519,478098513,478098579,478098510,478098985,478098514,478098511,478098705,478098533,478098509,478109564,478109566,478109565],"class_list":["entry","author-data123nz","post-25219","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-adelaide-real-estate-agent","tag-australia","tag-australians","tag-home-ownership","tag-property","tag-property-market","tag-property-news","tag-property-transactions","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-south-australian-real-estate-agent","tag-the-supreme-court","tag-zane-pitt"],"yoast_head":"<!-- This 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