Legal Question in Construction Law in Colorado
Home under warranty and builder files bankruptcy
We have a 1 year Limited Warranty for a home we had built 7/31/08. Our builder has filed Chapt. 7 Bankruptcy. We discovered a water leak along the foundation prior to notification of the bankruptcy. The builder evaluted the problem and a week later we were notified that they filed bankruptcy. Will the bankruptcy honor our warranty? Are there any steps we need to take to ensure the bankruptcy does not overlook our claim under our warranty?
2 Answers from Attorneys
Re: Home under warranty and builder files bankruptcy
You need to contact a bankruptcy attorney to determine if there are any options. Good luck.
Re: Home under warranty and builder files bankruptcy
You probably will not receive warranty service from your builder after a chapter 7 bankruptcy, however you are not completely out of options. You may be entitled to warranty service from a subcontractor or material supplier or manufacturer. You may also be entitled to make a claim for damages through the bankruptcy or even around the bankruptcy by pursuing a claim against the builder's insurance policy.
Related Questions & Answers
-
Construction law we signed a contract for a log package and paid 10% down to... Asked 3/04/09, 11:50 pm in United States Colorado Construction Law
-
Bankcrupt Subcontractor did not pay supplier I am a contractor for a remodeling... Asked 2/27/09, 10:42 am in United States Colorado Construction Law
-
Lien Question I completed warranty work for a builder on several homes they... Asked 2/19/09, 10:47 pm in United States Colorado Construction Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
