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| *Loan,banking and credit>>>homeowner insurance |
Who is responsible for homeowners insurance? |
In a rent to own lease agreement for the one-two year lease period who will have the homeowners insurance?the renter or seller? the person who owns the home should have insurance on the property, as a renter you should also have renters insurance to cover your belongings inside the home. The renter must have renters ins and the owner must carry home owners ins to cover the house only. While leasing, the owner. If you are leasing you need to get renters insurance to insure your belongings. Once the house is in your name, you pay for it. The seller should have the homeowners untill the house is signed over to you. You should have renters insurance on your belongings. Seller. You should have your stuff insured with rental insurance, though. The seller's policy will probably only cover the building, not what's inside. The person leasing has "Contents Insurance". The owner has "Homeowners". The homeowner is responisble for the homeowners insurance. http://www.lendermark.com |
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