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Can a homeowners association contact your personal insurance and name themselves as a party of interest?
Wiki User
∙ 9y ago
Depending on the situation, the association may be wise to take this step. If, for example, you are renovating or constructing your lot/ area/ 'unit', the association may want to protect its assets from construction damage. Project insurance may be a better choice here, than 'personal insurance'.
However, the association may not -- willy-nilly -- get itself named as a party of interest on your personal insurance. Your broker can protect you from such a claim.
Wiki User
∙ 9y ago
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Which Californian companies offer homeowners insurance?
There are many companies in California that offer homeowners insurance. Some of the companies offer better deals that others at better rates and interest.
How do you form Homeowners association?
A local common interest community-savvy attorney can advise you in your particular situation.
Does homeowners insurance have to include second mortgage?
Yes you need to include your 2nd mortgage. The reason is because they have an interest in your property. They must protect themselves, in case their is a total loss or significant loss.
How To form a Homeowners Association?
You can consult with a local, common interest community-savvy attorney to learn more about how to accomplish this task.
Can a Homeowners Assn have an insurable interest in a fence on property fence not on the common ground of the HOA?
Yes, a Homeowners Association (HOA) can have an insurable interest in a fence on a property that is not on the common ground of the HOA. The HOA is responsible for maintaining and enforcing certain rules and regulations for the entire neighborhood or community, which may include the maintenance and insurance of fences on individual properties. It is important to review the specific bylaws and governing documents of the HOA to determine their insurance responsibilities.
Can a Homeowners association charge interest on delinquent accounts?
Probably, yes. Read your governing documents and your association's Collection Policy Resolution to discover its process for calculating delinquent accounts.
Ca a Grandfather clause BE used in a homeowners association?
Your answer depends on the proposed insertion of the 'grandfather clause'. Association counsel, or a local, common interest community attorney can answer your question specifically. There is no standard.
Should all legal owners be listed as the insured on a homeowners insurance policy?
Yes they should be listed to protect their interest.
What is the highest rate of interest a Homeowners Association can charge for late payments in the State of Florida?
Florida's usury laws cap interest on 'loans' less than US$500,000 at 18%.
What if you don't have homeowners insurance?
If you don't carry homeowners insurance and you have your home financed, you are breaking the contract and your bank will take out a forced place policy to cover their interest in the home and you will have to pay the premium which is far more than a homeowners policy. If it's not financed, you take the entire risk of loss upon yourself.
Can you get another mortgage after a foreclosure?
yes...........but you will pay a much higher interest rate and your homeowners insurance will also be much higher Probably not.
How to transfer a Homeowners association condumiun neighborhood under jurisdiction of the city?
A common interest community-savvy attorney can help you address your particular situation. .
