Property Management
A Connecticut property management company is responsible for a common area in a condominium complex. A visitor slips and falls on uneven pavement the manager knew about but failed to repair. Liability may rest on:
AOnly the visitor, who assumed the risk
BThe property management company and the condominium association for negligent maintenance of a known hazardous condition✓ Correct
COnly the condominium association
DOnly the property management company
Explanation
Both the property management company (which had actual knowledge of the hazard and failed to act) and the condominium association (which has the ultimate duty to maintain common areas) may be held liable for negligent maintenance. The specific allocation of liability depends on the management agreement.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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