If I signed a contract to purchase a homebut the day after there was fire damage, do I have any rights to how the updates from the insurance are handled?
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If I signed a contract to purchase a homebut the day after there was fire damage, do I have any rights to how the updates from the insurance are handled?
I want to continue with the contract.
Asked on February 28, 2012 under Real Estate Law, Texas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
No, you do not have any rights with regard to the insurance issues. You are not the owners and there is no privity of contract between you and the insurance company and the house. Your contract probablydoes give you the right to cancel but you say that you want to continue the contract. So it may be a good time to renegotiate the terms Good luck.
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