State court’s ruling a blow to builders

February 5, 2008 by Dan  
Filed under Investing

The Iowa Supreme Court in late January ruled that homeowners can sue builders for poor workmanship even if they aren’t the original owners of the home.

Robert and Beverly Speight, of Clive, Iowa, bought their home in 2000. The house was originally built for a different owner in 1995. Shortly after moving in, the Speights noticed water damage and mold at their home. A building inspector determined that the damage was caused by a roof and rain gutters that were not built properly.

The Speights in 2003 filed a lawsuit against the builder, Walters Development Company. You can read the full story here.

No one knows yet what the results of the lawsuit will be. There’s no guarantee that the Speights will win their case. But the fact that the couple is able to bring the case to court is a victory for homeowners.


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