Best Answer


If there is potential for an assertion of liability, The inherited property should be insured by the owner(s).

You can ensure the property under a Dwelling Policy wich basically covers homes owned but not occupied by their owners.

User Avatar

Wiki User

2014-10-11 08:15:02
This answer is:
User Avatar
Study guides


21 cards

If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

How many grams of cholesterol should you eat each day to maintain a healthy diet

What would cause a fluttering inside the ear canal

Why is beef fat a solid at room temperature

See all cards
507 Reviews
More answers
User Avatar

Wiki User

2014-10-12 01:01:07

It really depends on the use to which you are putting the real estate. For example, if a store was operated on the land, a liability policy insuring all co-owners is recommended. However, if it is raw., unimproved land, likely not. Nonetheless, if you are aware that there are hazards on the property (such as an open well) and that people go onto the property, you may have a duty to warn. Liability insurance may be available in those circumstances.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do you need liability insurance for real estate you inherit along with other heirs?
Write your answer...
Still have questions?
magnify glass
Related questions

What kind of insurance do general contractors need to have?

General contracts must carry at a minimum liability insurance along with being bonded by the state. Liability insurance should be no less than $1 million and could be much higher depending on the job.

You were married when your parents died you then divorced your husband The heirs of the estate divided the property Does your exhusband have to sign along with your signature to your part of the prope?

No. What you inherit is yours, not his, and it isn't community property.

Are adult children legally responsible for estranged dead fathers funeral costs or medical bills?

If you made the funeral arrangements or otherwise contracted for them, then yes. Otherwise, you are not responsible. However, if you stand to inherit from the estate, creditors can take assets from the estate before they are passed along to you.

Where can you get living history liability insurance?

This is known as "Special Event" Insurance. It's no different from coverage for a one day or short term carnival, parade or rodeo.You can obtain this specialty coverage through any insurance agent or company that offers event insurance.AnswerReenactor and living history liability insurance along with supplemental medical insurance are available if you join The Reenactors Performance Group. This professional organization provides comprehensive insurance with membership, it covers you at event, when hosting an event, and personally if you get hurt.

What is non owners insurance?

Non Owners InsuranceNon Owners insurance - Auto Liability Insurance for Drivers who own no vehicle. It is also known as:1. Drivers Insurance2. Operators InsuranceNon Owners insurance is generally a Named Driver Policy Form (no other drivers are covered) and provides Secondary Auto Liability coverage along with other optional coverages.such as:1. Medical2. Uninsured / Under insured motorists3. Enhanced Personal LiabilityHappy Motoring

How can I figure out my estate tax rates?

Some states have their own estate or inheritance tax along with the federal estate tax. You will have to check with your tax professional to determine your tax liability. The best way to calculate your estate tax is to use an online calculator, such as one found at which lets you input all of the different tax variables and supplies you with your tax rate.

Where can you get liability insurance for your home daycare?

Your local insurance broker (Or me) can help you out, but just as an FYI in home day care is considered VERY high risk, so the cost of insurance on the operations is likely to be $7,500+ per year including general liability and an employee or two on work comp. This does not include any coverage for transporting kids which would be seperate, along with most likely an accident and injury policy for smaller bodily injury claims.

What function do adjusters provide?

Adjusters investigate insurance claims, mainly. They interview the person who made the claim and any witnesses, along with viewing hospital records and any damages there may be to verify that the insurance claim that was filed is not a false claim and to decide the company's liability.

What are the foundations of contractual liability?

Contractual liability is defined as liability that does not arise by way of negligence, but by assumption under contract or agreement. Although it is frequently misunderstood, this type of liability is critical in the insurance and risk management industries. It is common in business agreements (written or oral), for one party to assume the liability of another. This is sometimes referred to as a hold harmless agreement. The full extent to which one holds another harmless varies from project to project, contract to contract, job to job and so on. To assume liability of another is risky and increases your exposure to loss. That is why insurance is required. Contractual liability insurance is usually provided with commercial liability insurance - but you should always ask your agent to make sure. There will also be some exceptions and limitations, so again ask your agent and thoroughly read through your policy so that you know what is and what is not covered. Outside of insurance, contractual liability has a broad meaning - it's basically a promise that may be upheld in court. For example, say you agree to build someone a deck for $600 and collect $300 as a retainer prior to starting the job. In the meantime, a higher paying project comes along and you never show up to put on the deck. The other party can take you to court and collect the original $300 that they paid you. You were in breach of contract and therefore they had a justified contractual liability claim.

What companies offer a discount on car insurance when purchased along with home insurance?

Many companies offer discounts on car insurance when purchasing along with home insurance. Some of these companies include Progressive Insurance and State Farm Insurance among others.

If a man passes away is his widow or his children responsible for any of his credit card debt in California?

The estate is responsible for his debts. In most cases this will mean that the credit cards will have to be paid off before the spouse or children can inherit any money. If the wife is also listed on the credit card, she will be liable along with the estate for paying it off. This question is best posed to an attorney familar with California estate law and this mans' will.

Who did Cleopatra inherit the position from and what was the relationship to that person?

Cleopatra inherited the throne, along with her brother, from her father.

People also asked