What is the name of your state (only U.S. law)? Florida
I'm soon to be starting construction on a commercial building I am leasing. Construction is $200k and will go for about 8 weeks. Building owner is trying to pass all risk to me. I've agreed to put everthing in escrow to ensure that GC or subs get paid and can't place a lien on his building.
He's now concerned that if I die/skip town in the middle of construction he will be left with a building not in rentable condition. He's proposing the if I do die/skip town he gets all remaining money to do as he pleases on the building.
Do I have any obligations beyond paying GC and subs for work performed?
I'm soon to be starting construction on a commercial building I am leasing. Construction is $200k and will go for about 8 weeks. Building owner is trying to pass all risk to me. I've agreed to put everthing in escrow to ensure that GC or subs get paid and can't place a lien on his building.
He's now concerned that if I die/skip town in the middle of construction he will be left with a building not in rentable condition. He's proposing the if I do die/skip town he gets all remaining money to do as he pleases on the building.
Do I have any obligations beyond paying GC and subs for work performed?