Susan's condominium unit in Rochester has a water leak that damages the unit below. Under typical New York condominium arrangements, who is responsible for the damage to the lower unit?
Correct Answer
A) Susan's personal liability insurance
Under typical New York condominium arrangements, damage caused by one unit to another unit is generally the responsibility of the unit owner who caused the damage, through their personal liability insurance. Unit owners are typically required to carry liability insurance for this purpose.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Marketable title is title that is free from reasonable doubt as to who the owner is and free from liens, encumbrances, or defects that would cause a reasonable buyer to hesitate before purchasing. It is also known as merchantable title.
Probate is the legal process by which a deceased person's will is validated by the court and their estate is administered, including the transfer of real property to the named beneficiaries or heirs.
A quitclaim deed transfers whatever interest the grantor may have in a property without making any warranties or guarantees about the quality of title. It offers the least protection to the grantee.
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