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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Changing your insurance payee... Posted by Ward-CA- on June 30, 2003 at 10:39 PM In Reply to: fire insurance posted by gcastro on June 30, 2003 at 4:49 PM : Ward, when you buy subject to existing loan, and the previous owner sends a notice to the existing Insurance carrier to let them know that there has a been a change in the way they hold title to the peoperty to the name of a Trust, does the Insurance company accept it right away? Do they know what they need to do so that if the house burns in a fire, that the trust will be covered? -=-=-=-=-=-=-=-=-= Yes, the insurance company has received a written notice by the owner of both the property and the insurance policy that instructs the insurance company that there's been a change in the insured party from an individual to that individual's trust. If the insurance company doesn't want to accommodate the change they will contact the home owner and explain why. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, when you buy subject to existing loan, and the previous owner sends a notice to the existing Insurance carrier to let them know that there has a been a change in the way they hold title to the peoperty to the name of a Trust, does the Insurance company accept it right away? Do they know what they need to do so that if the house burns in a fire, that the trust will be covered? : -=-=-=-=-=-=-=-=-= : Yes, the insurance company has received a written notice by the owner of both the property and the insurance policy that instructs the insurance company that there's been a change in the insured party from an individual to that individual's trust. : If the insurance company doesn't want to accommodate the change they will contact the home owner and explain why. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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