Legal Question in Real Estate Law in Ohio

Statute of Limitations on Property Disclosure Form

I was the seller on a house over a year ago. Filled out the disclosure as required by State of Ohio law for the state of the house as it was - Section D stated that there was not a water problem in the basement.

The buyer is trying to sue me for $5000 to fix the basement for flooded during the past month (more than a year after closing).

Please let me know if I am liable for this as it did not flood while I occupied the house for 7 years.

Thanks!


Asked on 1/20/04, 3:01 pm

1 Answer from Attorneys
J. Norman Stark J. Norman Stark , Attorney, Architect

Re: Statute of Limitations on Property Disclosure Form

If your sales agreement included the term "As Is", your purchaser has no likelihood of recovering against you. If your agreement contained no such limiting term, and your statements on the Real Property Disclosure Form were honest and you have a way of confirming that you never had any basement flooding in your seven year occupancy and ownership, fear not!

You need good counsel ASAP to defend, write a strong letter to refute any perceived claim even before it gets filed as a lawsuit. If, however, your purchaser persists and sues, you need to file a very potent counterclaim, and proceed vigorously against your purchaser, to discourage further action, possible dismissal.

Remember, if you told the truth, you've nothing to hide! Otherwise, consider settlement before suit and take your lumps now.

Good luck. J. Norman Stark, Cleveland and Sarasota, FL.

Read more
Answered on 1/21/04, 6:36 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Ohio