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In A Land Contract, Who Carries Homeowners Insurance Seller Or Buyer.?
08 Feb
Posted by as insurance services
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i was just told that they can only put the insurance in the deed holders name. but we will be putting a lot of improvements into the property. how does this cover our investment if the seller holds the deed?
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One Response
hottotro
February 8th, 2010 at 7:29 pm
1Usually the Owner (deed holder) buys and pays for the insurance. So the Seller pays for it until the property closes. Are you improving the property before it closes? If so, I would talk to an attorney to make sure that you are covered by insurance and to make sure that the seller can’t back out of the deal.
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