The meaning of the term tort outlines a wrongful act resulting in injury or damages. For example, trespassing on someone’s private property can end up destroying a part of it. Subsequently, the perpetrator is legally liable to the aggrieved party. Another everyday example is when the landlord negligently fails to repair defective electrical wiring, resulting in a fire.
Note that torts are not crimes. Punishment comes in the form of financial compensation allocated to the wronged party, not prison time for the liable individual! Tort victims can sue for monetary compensation to balance their financial losses and eventual suffering resulting from said harm.
Tort law provides civil liability
Tort law is beneficial and applicable legislation. It was passed to penalize wrongful acts against one’s safety or private property. The four main torts are intentional interference or tort, negligence, absolute liability, and strict liability. Intentional torts are usually fraud, defamation, and false imprisonment. So is a wrongful death claim.
Even if they didn’t mean to harm anyone, the owner of a hazardous animal, for instance, a spider, has absolute liability if the animal bites someone. A faulty gadget abusing its users may lead to strict liability charges against the item’s manufacture
Tort in property management
The very definition of tort is civil abuse or harm. Often, it goes by the name “negligence” in ordinary discourse. Oversight is the most typical form of tort liability and does not involve intentional actions. When somebody fails to carry out their duty of care, they do wrong. We mean legal responsibility and accountability by the duty of care, ensuring protection from harm to people in a particular real estate.
For example, a landlord fails to take preventive measures against a battered roof, resulting in people falling from it. This negligence gives the wronged party a civil right to seek justice and file for reimbursement of some sort. Before signing a rental contract, we advise new occupants to look into tenants, owners, and landlords’ liability policies and tenant-landlord rights.
Tort in real estate
An injured house buyer or tenant can commence civil litigation against local real estate agents and brokers selling damaged property based on tort liability. A reliable real estate agent has the moral obligation to provide full transparency and inform their clients about the land or property forming the object of the real estate transaction.
A faulty and not adequately repaired ceiling might deter a client from purchasing a house. However, a realtor must reveal this for fear the plaster may fall on the buyer or the buyer’s valuables.
Agents must inform potential buyers about the current condition of the property they represent. Suppose a realtor failed to communicate their knowledge of defects that can harm people or property. Then, they can be held liable on the grounds of negligent tort and sued for compensatory damages.
Popular Real Estate Terms
Estimated price at which a partner in a partnership can buy out another partner. There are several methods for developing a buy-out estimate including market comparisons, appraisals, or ...
A method of purchasing real estate whereby a maximum amount of leverage is used. Normally the seller will finance the down payment necessary to acquire a mortgage. Thus, the purchaser is ...
Point at which a housing development becomes a neighborhood. After an initial housing development is sold and the new owners become established, the neighborhood stage begins. The ...
Sometimes, a perplexing legal term (a genuine headscratcher) emerges when buying or selling a property. You know you should know it, but its precise definition escapes you. Today's special ...
An opening with a hinged cover allowing access from one level to another in a structure. Often installed in a roof or the floor of a building to allow the entrance of people and materials ...
Structure or part thereof, such as a building, that obstructs or overlaps another property. Infringement on the property or rights of another individual or business. ...
In any field, from the corner store or long-term rentals, the potential gross income is the expected revenue earned from a sale or the rendering of services. The potential gross income ...
An agreement by which a mortgage is made subject to a junior mortgage. For example, a loan on a vacant lot is made subject to a subsequent construction loan. ...
A horizontal beam connecting together two rafters supporting the roof. The collar beam is located at the point substantially higher than the wall plate connecting the rafters. The high ...
Have a question or comment?
We're here to help.