Legal Question in Business Law in Indiana
Incorporated business liabilities?
If you buy a building lot from an incorporated business. And the lot has covenants and restrictions in place at closing. And homes are built that do not comply with written covenants. Is there any liability on the incorporated business as your home value is now lmuch less?
Asked on 11/21/08, 4:57 pm
1 Answer from Attorneys
Re: Incorporated business liabilities?
If those homes preexisted the sale of the lot, you probably do not have a cause of action against the seller sicne the covenants are a public record and you couls have determined the violations before you sold. However, you might have a right to sue the violators to enforce the covenants.
Answered on 11/21/08, 5:20 pm
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