Legal Question in Real Estate Law in Hawaii

I am considering purchasing a partially built home. The builder who currently owns the property has run out of money and is unable to finish it. We are considering a deal in which I am added on to his construction loan and we are both on the deed. Considering his financial problems, if creditors start going after him because he is not making payment on debts unrelated to this property, is my investment in the property at risk because we are both on the deed? Is it possible to write up an agreement that would limit my liability in this situation?

Asked on 2/26/10, 1:41 pm

Jon Zahaby Tour bus, scenic and sightseeing, operation

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You are at risk to be on the hook with him and his debtors. An agreement could be drafted indemnifyiing you. As well as other options.

Aloha, Jon A. Zahaby

Answered on 3/03/10, 1:52 pm

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