[WSBARP] CRE Transaction Question; Assumption of Liability/Indemnification?

[Info Contact]

Hi Everyone,

Fact pattern: Buyer (also Tenant-1) is purchasing commercial property - the
unit Buyer is currently occupying plus other units - from Seller (also
Landlord). Seller (Landlord) was apparently sued by Tenant-2 at some point
in the past (and lawsuit is on-going) for slip and fall injury in
Tenant-2's unit. Tenant-2 claims Landlord did not repair the leak from the
water line, resulting in standing water, causing Tenant-2 himself (not
Tenant-2's patron) to slip and fall. Buyer is purchasing the property, not
Seller's (Landlord's) business or entity.

Question: Does Buyer assume all assets, liabilities, and risk from Seller,
including on-going claims/lawsuits? What's the best way Buyer can purchase
the property but disavows such liabilities, if any?

Thanks in advance for your help!

-- 
Chanvir Singh (CJ)
Attorney

Prime Legal Services
14900 Interurban Ave. S., Suite 261
Seattle, WA, 98168
206.674.4585
Email <cj at lawpls.com> | Bio
<https://www.lawpls.com/attorney/singh-chanvir-c-j/> | Law Blog
<https://www.lawpls.com/blog/> | Website <http://www.lawpls.com/>

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