Q: My question is with regards to liability. Bank owned property.
There is a large tree in the backyard of the property that has displaced my fence, and also caused damage to my backyard's foundation due to the roots growing through the ground. The property is also occupied by squatters and the bank may, or may not be attempting to evict. (I've reached out to the bank's lawyer' to confirm the current state of affairs to ascertain if a resolution in that matter is on-going. My question is is the bank liable for the damage even though they do not have physical possession of the property, but is the legal owner's.
Update and clarification: The bank did foreclose on the property and is the sole deed holder. I'm not sure as to how long, and why there are squatters residing in the property. As a solve, the bank said they would cut down the tree via there property management team (This is their solve, not mine.), but also added this direction would be taken if they were able to obtain access due to the squatter issue.
A: There might be liability for the bank. But, you can also sue and get a lien on the property. If you want the tree out, call 311 and see if the City will do it and put a repair lien on the property.
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A: Whether the bank bears any legal responsibility for the damage to your property will depend, in large part, on its relationship to the property on which the tree is located. That the bank has a mortgage on the property, without more, will unlikely give rise to any duty to maintain the property. On the other hand, if the bank has foreclosed on the property and has assumed some degree of control over the property, that's a different story.
1 user found this answer helpful
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