What Is My Liability With Mold?
As our 1st lease-option has gone on, it has truly become our "seminar" on what-to-do and what-not-to-do! We have had a ton of problems, and things which aren't problems have been made into problems. We don't know the history of the home, but our "buyers" claim that the house has mold throughout the walls. She hinted that she doesn't want her children to have additional health problems because of our house. What is my liability? Should I have would-be owners signing a mold disclosure, even if I am not aware (like lead-based paint)
First of all, I think it's important to answer this question... Is the house owned by you, or are you sandwiching it with a L/O on the other side, too?:-?
Remember the L/O is just like a lease, with the extra option "tagged" on.
You are landlord.
Liability=Unlimited
If you are simple in the middle of the sandwich, you have to take it up with the owner. Give us a little more info.
Sam
The property is in trust and we own the beneficial interest in the trust. I have no problem allowing them out of their contract, and even refunding their down payment.
We have heard quite a bit of complaining and have offered extensive solutions which is usually regarding with more complaining-which is fine because I know there is a payday on the horizon. I wanted to make this offer of refund or even to have the home tested and remediated, I think that they will deny our offers. With that said, do I make this offer by way of certified letter or even if so, am I possibly still 2 years from now looking at medical bills? I am making thes remarks due to hinting conversation from our "buyers"
Make sure your owner's insurance policy does not exclude mold liability. Mold is the hot new topic for attorneys. Attorneys will usually go after your insurance, even if the medical problem showed up several years after the policy was in effect.
-Chas