Posted by Michel (TX) on January 15, 2002 at 05:45:32:
Bill,
Thanks for your comment. What is my liability in regard of the pool damages? Since it was a pre-existing condition when I took over the house, what are the odds that I could be held responsible and what do you suggest?
Thanks in advance.
Michel
Problems with Trust and Survey. - Posted by Michel (TX)
Posted by Michel (TX) on January 14, 2002 at 14:09:27:
Bill,
A few months ago, I took over a house through a Trust. I’m the Trustee and the Beneficiary.
Last month, I sold the property and we were closing this Thursday. Today, the buyer called me and said that there were a few problems with the survey.
On one side of the property, it actually reflects on the survey that he would gain 16’ beyong the existing fence.
A metal shed, owned by the next door neighbor is on the property. It’s not shown on the survey. He inquired to the next door neighbor and was told that he was under the impression that the land was his. They have owned the house for the past 7 years.
After talking to those neighbors, he was told that damages to their swimming pool due to tree roots, which is about 30-40 feet from their pool. There’s obviously surface roots heading that way. The neighbors told him that they advised the previous owner on the above, but nothing was done.
The buyer has decided to consult an attorney. We have an extension of 21 days on the contrtact after Thursday to close or not to close.
Questions:
What should I expect at this point?
Am I responsible in the event the next door neighbor decides to sue for damages?
What options do I have?
Sorry for the long posting. I need your expertise.
Thanks!
Michel
Re: Problems with Trust and Survey. - Posted by William Bronchick
Posted by William Bronchick on January 14, 2002 at 21:49:18:
It’s really up the the buyer what he wants to do. He could have grounds to rescind the contract if it was contingent on title & survey review.