Legal Question in Real Estate Law in New York

I recently rented a farm, with intention to buy. I never signed a lease while I was there. I built a barn and did about $80k worth of excavation. Before I could close on the property I lost my job and ran out of money. I put all my savings into this farm, and still owe for the excavations. Am I able to walk away without the debt of the excavations since I never signed on the property? What are my options, as I do not have enough money to move forward with the farm nor pay the bill on the improvements I made?


Asked on 5/06/11, 3:13 pm

1 Answer from Attorneys
Kevin Connolly Kevin J. Connolly

You are personally liable on the contract you made for the excavations. The owner can sue you, too, for granting a lienable contract on the property and not paying for it. The owner may be able to resist paying on the contractor's lien, but you have no defenses other than the lack of money.

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Answered on 5/10/11, 6:16 am


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