Business Liability Insurance
If I'm renting a piece of commercial property to someone and they are running a business from the property (in this case, a salvage yard) There is no rental contract because the renter is family, the only proof of rental is a monthly rent receipt, I have not required the renter to have a business liability insurance policy and someone gets hurt on the property, who is liable, the property owner or the person renting the property? Is there a chance that the property owner (which is me) can be sued?
1 Answer from Attorneys
Re: Business Liability Insurance
Both of you can be sued. If it were me I would immediately give them 30 days to obtain insurance, get an umbrella liability policy for myself, and would evict if they fail to get insurance withing the 30-day period.