Legal Due Diligence must also include a chapter on specific liability risks:
1. Acquisition of a business
- Transfer of a business (CO 181)
- Transfer of employment relationships (CO 333)
2. Poss. verbal agreements for leases
3. Development costs
4. Direct and indirect statutory charges
5. Any builders’ liens
6. Property taxes
- Previous transfers of the real estate with or without a tax ruling
- The circumstances surrounding the omission of suspended tax payments
- Property tax lien(s)