Definition, Meaning & Synonyms

real-estate-liability

Noun

/ˈriːəl ɪˈsteɪt lɪˈaɪəˌbɪlɪti/

Definition

The legal and financial responsibilities associated with ownership or management of a real estate property.

Examples

A homeowner may face real estate liability if someone gets injured on their property.
Investors should be aware of real estate liability when acquiring rental properties.
Having insurance can help protect against real estate liability claims.

Meaning

Real estate liability refers to the obligations one may have to cover any damages or legal issues arising from owning or renting property. This can include accidents on the property, property damage, or other legal claims made against the owner.