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No, in order to get an insurance policy on property you need to have an insurable interest. Meaning you need to own the property or have some other interest in the property.
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Can you insure someone else home?
Insurance for Someone Else's HomeYes, You can Insure the property of another person. So Long as you have authorization to do so and the owner is benefited, or an other insurable interest in that property exists. You can not insure the property of another when no insurable interest exists. It would be unlawful to insure the property or life of another where the intent is to gain unduly from anothers loss.
Is it legal to carry property insurance on someone else's property?
Insurance for someone else's propertyYes, You can legally Insure the property of another person. So Long as you have authorization to do so and the owner is benefited, or an other insurable interest in that property exists. There are many situations where a third party may need to obtain property insurance such as, Estate Executors, Court Appointed Trustees, Dependents, Bailees, Tenants, Persons holding POA, or living wills, etc..You can not insure the property of another when no insurable interest exists. It would be unlawful to insure the property or life of another where the intent is to gain unduly from another persons loss.
In NY State is real property not considered part of an estate?
Real property is a part of the estate in every state. It is usually the biggest asset the estate has. However, depending on the ownership of the property, it may not be a part of the estate because it automatically belongs to someone else when they die. If it is owned as 'joint tenants' or 'tenants by the entirety' it will automatically go to the surviving person without entering the estate.
If a sibling has usafrux of a house owned by other siblings who pays house insurance property taxes for a new roof etc?
Usufruct is the legal right to use and derive profit or benefit from property that belongs to another person, as long as the property is not damaged. You need to consult with an attorney in your jurisdiction to determine what the legal obligations are under your system of law.
What rights does an alternate owner on property tax records have to the property if listed as in care of?
The only person with rights to the property is the grantee on the deed. If the tax bills are sent "in care of" another person that other person acquires no interest in the property.
Can you insure someone else home?
Insurance for Someone Else's HomeYes, You can Insure the property of another person. So Long as you have authorization to do so and the owner is benefited, or an other insurable interest in that property exists. You can not insure the property of another when no insurable interest exists. It would be unlawful to insure the property or life of another where the intent is to gain unduly from anothers loss.
What is the meaning of the word property?
The meaning of the word property is indicating an object that belongs to a person. If one says that a person intrudes into someone's property, that means they have entered without permission (the house is the property).
What is the meaning of word property?
The meaning of the word property is indicating an object that belongs to a person. If one says that a person intrudes into someone's property, that means they have entered without permission (the house is the property).
Can someone else insure a car you own?
insurance for some one else's vehicle, yes another person can insure someone's else property, so long as you have an INsurable interest or authorization to do so and the owner is benefited, In other words, The owner also has to be a listed insured on the policy.If you give the permission to another person. obviously they will have an insurable interest, however, only the legal owner of the property can receive compensation in the event of a covered lossyou can not insure the property of another when no insurable interest exists
Is a bank account tangible property?
Yes. A Bank account is the personal property of the person who owns and operates the bank account. It will be considered an asset for the account owner. Anything that has a monetary value and belongs to someone is called an asset. Since a bank account is worth as much money that is in the account and belongs to a customer, it is the personal property of that person.
Is a bank account tangible personal property?
Yes. A Bank account is the personal property of the person who owns and operates the bank account. It will be considered an asset for the account owner. Anything that has a monetary value and belongs to someone is called an asset. Since a bank account is worth as much money that is in the account and belongs to a customer, it is the personal property of that person.
Is it legal to carry property insurance on someone else's property?
Insurance for someone else's propertyYes, You can legally Insure the property of another person. So Long as you have authorization to do so and the owner is benefited, or an other insurable interest in that property exists. There are many situations where a third party may need to obtain property insurance such as, Estate Executors, Court Appointed Trustees, Dependents, Bailees, Tenants, Persons holding POA, or living wills, etc..You can not insure the property of another when no insurable interest exists. It would be unlawful to insure the property or life of another where the intent is to gain unduly from another persons loss.
If you are trying to go in a property that is private do you need to ask somebody?
Yes, that is why it is called "private" property. It belongs to someone and usually you either know the person all ready or you need to ask permission to go onto the property. Otherwise it is trespassing.
If land not belongs to a person then can he exercise any contract?
No. A person cannot encumber property they don't own.
How can the person with a life estate insure property they do not own?
Check with your agent. I am certain there is a way. A broker is your best bet!
Can a person who has been using a piece of property for nine years that belongs to another person say that it is theirs?
Answer: A person cannot make an adverse claim on property if they had the owner's permission to occupy it. The nature of your use of the property would need to be ascertained.
When insuring a commercial truck does the person insuring the truck have to have a CDL?
No, not to insure it just to drive it. You can insure it and let someone else drive it as long as they have their Class A CDL.
