Executor and Estate Attorney selling property with UST (underground storage tank) defect.
Asked on Jun 12th, 2013 on Real Estate - New Jersey
More details to this question:
I inherited property with two siblings, one of whom is executor who lives out of town. I live at property and in the past years there have been problems with the heating system most likely due to a leaking fuel oil underground storage tank. I do not want to be liable for buyers or new owners lawsuites against me because I did not disclose this, so I sent a letter to the Estate Attorney, stating I am disclaiming liability for nondisclosure. The property is being sold As Is. Can I assume that the Executor and Estate Attorney are solely liable if they don't disclose this to prospective buyers. Thank you for comments.
Ye s- I think you have done enough due diligence to absolve yourself of liability. the Executor and/or the estate will be liable, and chances are, the purchaser will find out if the tank is leaking because they will do an inspection of the tank before completing the purchase.
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