Who ownes the 2 insurance policies on home purchased thru estate contract?
2 insurance policies were purchased on a home that burned down. the home was man sold under a land contract. the buyer be (unknowingly) paying for both the insurance policies. the seller now desires the payout from both policies. is he entitled to the money from both policies and should he be paid the remaining balance on a house that have now been totaled by fire?
Answers:
The purveyor will NOT get the buyout on 2 policies, if anything, they will share in a percentage of the loss. And it depends on who's moniker the policies were written, the payout will go to the NAMED INSURED on the policy.
Cannot double dip, even if here were 2 policies written. Source(s): Licensed insurance broker
The buyer would get adjectives the money, of course the seller requirements to be paid off of the remaining register if the buyer choses not to rebuild the house. , but if the buyer chose to rebuild consequently the seller wouldn't have any claim to the insurance money. Please data: that it would be illegal to file two seperate claims ,unless one be just a booster policy, meaning it covered what the other did'nt
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Answers:
The purveyor will NOT get the buyout on 2 policies, if anything, they will share in a percentage of the loss. And it depends on who's moniker the policies were written, the payout will go to the NAMED INSURED on the policy.
Cannot double dip, even if here were 2 policies written. Source(s): Licensed insurance broker
The buyer would get adjectives the money, of course the seller requirements to be paid off of the remaining register if the buyer choses not to rebuild the house. , but if the buyer chose to rebuild consequently the seller wouldn't have any claim to the insurance money. Please data: that it would be illegal to file two seperate claims ,unless one be just a booster policy, meaning it covered what the other did'nt
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