Posts Tagged ‘lawsuit’
What are the implications of a lawsuit on a rental property?
My parents own a leasing house that they rent out. 2 years ago there was an ancient self who rented with younger family members. The ancient self fell down the stairs and was injured. That family is now suing my parents. The lawsuit will not be settled for at least another 2 years. If my parents try to sell the house before this is resolved, what are the implications for the new buyer of the property with accept to the lawsuit and with accept to the new buyer getting insurance. Will the lawsuit stay on the house or stay on my parents only? Will the new buyer be able to get insurance or will they face restrictions?