Legal Question in Real Estate Law in Texas
If an agreement to sell property is silent about who bears the risk of loss, who
If an agreement to sell a house is silent as to who bears the risk of loss, who bears the risk in the event of a total destruction of the property. The insurance is no sufficent to rebuild, the agreement was an ''as is'' contract. The purchasers are claiming they have a right to the insurnace proceeds AND the property. Please advise.
Asked on 2/02/01, 12:34 pm
1 Answer from Attorneys
Re: If an agreement to sell property is silent about who bears the risk of loss,
I would have to review the paperwork that you signed. Also, have you forwarded any money to the sellers yet?
Answered on 3/18/01, 11:33 pm