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Updated almost 9 years ago on . Most recent reply

User Stats

54
Posts
5
Votes
Eric Dubrule
  • Investor
  • Leominster, MA
5
Votes |
54
Posts

Do I have any liability for a property I just sold?

Eric Dubrule
  • Investor
  • Leominster, MA
Posted

Long story short-- I owned a 4 unit building that burned down.  I demo'd the building and was left with just the land that has a hole where the basement was. The demolition permit was approved by the City, but the lot isn't exactly a 'normal condition' in the neighborhood. It's a dirt lot, granite foundation blocks and steep slopes.   That said, I just sold the property.  I currently have liability insurance on the property and am hesitate to remove it.   I've just got this feeling that if someone trespasses onto the property and gets hurt-- they might pull me into a lawsuit.  Am I being overly cautious? 

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