Updated almost 8 years ago on . Most recent reply
Possible lawsuit for seller
I've been trying to negotiate a price with seller financing for a fourplex in Los Angeles California. Just recently the stairs that go to the top apartment fell in while the tenant was walking down it. He fell all the way through. He didn't get hurt too badly, but who knows he may sue. if I buy this property, will the lawsuit transfer over to me? or it would have nothing to do with me. suppose I buy it and , at the time it closes, the title is clear with no lawsuits. Can this Tennant put a lien on my property even though I was not the owner at the time of the accident? Should I just walk away from this deal?
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@Gina Williams You need an attorney to answer this, but one of the things you might consider is including a provision in your P&S that all liability of any kind, incurred before the date of title transfer to you, remains the sole responsibility or the seller.
But seriously, run this by a local attorney.