Sentences with phrase «owed by the property owner»

Depending on the role of the guest (i.e., a social visitor, a business invitee or a trespasser), the duty of care owed by the property owner will vary.

Premises liability refers to the duty owed by the property owner to the visitor.

Not exact matches

QUEENS, NY — Borough President Melinda Katz today announced an upcoming workshop at Queens Borough Hall to help homeowners and other property owners who may be affected by the City's upcoming tax lien sale due to unpaid taxes and other bills owed to the City of New York.

By the end of the second quarter, more than 12.3 million homes were equity rich — meaning their owners owed less than 50 percent of the property's value on outstanding mortgages — according to real... View Article

When property owners fail to fulfill the duty of care owed to people visiting their property — especially those invited onto the property — they may be held liable for harm caused by the hazardous condition.

[46] What is clear, however, based on s. 2 of the Act, is that there is no general common law duty of care, based on proximity principles, owed by an adjacent property owner or tenant in respect of sidewalks that abut that person's property.

Social guests are owed a slightly lower duty of care, but property owners still must protect them from any known dangerous conditions, either by repairing a hazard or by providing a warning.

Each of these categories is owed a different level of care by the property owner.

In order to establish a premises liability case, you will need to prove that the property owner owed you a duty of care, that the property owner breached that duty by leaving his property unreasonably dangerous, and that you suffered an injury as a result.

Short sale: A property transaction in which the lender or lenders agree to accept less than what is owed by the current home owner.

Illinois lawmakers upped the ante by inserting an additional requirement that limits to 125 percent of the total debt owed the amount a foreclosure purchaser can make when selling the property back to the original home owner.

If you do not intend to keep the property and your title is clear of other liens, we may (based on requirements set by the owner of your loan) be able to accept the deed to the property and forgive your debt, even if the property is worth less than the balance that you owe.

Equity: an owner's financial interest in a property; calculated by subtracting the amount still owed on the mortgage loon (s) from the fair market value of the property.