A Seller just discovered following the Buyer’s Home Inspection that the property is filled with knob and tube wiring. This was supposed to have been removed by the original Owner 8 years ago.
What can be done?
There’s a limitation against the original Sellers that expired about 6 years ago. That’s difficult to get around. It’s a challenge, but it’s still possible.
The trigger for the start of the “limitation” is the discovery of te problem in the first place.
The test is easier should there be either a claim against the Agent or the Lawyer. It would appear that one or the other, or both overlooked something on the closing.
While this seems like such a glaring and obvious error, a solution on closing could have been a financial credit. Eight years goes by, and the present Owner has just forgotten that part. This sort of thing occurs more frequently than it should.
Once the system is fixed, it’s time to review the old file carefully. Any action against the Lawyer and the Agent should include the Seller for the purposes of discovery.
Brian Madigan LL.B., Broker