My landlord that I am doing a lease/purchase with is being sued for injuries from an automobile accident. Should I be worried ?
06-Feb-2009
This is a potential issue with lease/purchases transactions. If the seller/landlord has a judgment placed against him... this judgment is recorded as a lien against any real property that he owns. So, in this scenario, if a judgment is obtained in court against this landlord/seller, it will be placed of record against this property. This could potentially become an issue when the property is going to be sold at a later date.
This is a potential issue with lease/purchases transactions. If the seller/landlord has a judgment placed against him... this judgment is recorded as a lien against any real property that he owns. So, in this scenario, if a judgment is obtained in court against this landlord/seller, it will be placed of record against this property. This could potentially become an issue when the property is going to be sold at a later date.
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