Answered on Nov 02nd, 2011 at 11:30 AM
You appear to fall under the realm of contract, property and tort (personal injury) law. Once you sign a purchase agreement, barring language in the contract to the contrary, you have assumed the risk in some, but not all, situations. If you are being sued, you may want to consider bringing the seller into the suit. Depending on how an attorney wants to tackle this one, the seller of the property could be held liable for pre-existing conditions. So, in short, yes, you can be sued as the legal owner, but your back-up may be that the seller was in actual possession of the property at the time of the incident.