Question:
A few years ago my late father bought this building which the realtor did terrible leases for. Also the realtor said the income was a certain amount which it wasn’t. They sold the building with 3 tenants, but after my father signed the waiver one of the long term tenants left. That space has been empty for 5 years.
It’s been a nightmare dealing with all remaining tenants, and now I have 3 lawsuits with 3 tenants.
Can I sue the realtor for:
1. Misrepresenting the building income,
2. Not allowing my father to cancel the deal when he expressed he wanted to cancel after finding out about the tenants,
3. All the costs and stress related to dealing with the 3 tenants due to the poorly written leases,
4. Income loss from the poorly written leases and the vacant unit.
Answer:
This is a most unfortunate situation. There may be an entitlement to a claim. That would have to be examined in some detail.
Ordinarily, the 2 year limitation would come into play. A lawsuit must be commenced no later than 2 years after the relevant facts come to the attention of the litigant. That would seemingly indicate that it’s now too late.
However, I see that your father is now deceased. If at the time the 2 year limitation came into play, your father was incompetent, that would extend the limitation.
So, there still may be rights, but you would have to act quickly since time would be running out.
Brian Madigan LL.B., Broker