Homeowner's Insurance
Probate
Wills

Does the second beneficiary gain ownership of home after the balance is paid by insurance?

Answer

Wiki User
01/11/2013

Homeowners Insurance only covers potential losses to the home as detailed in the Home Insurance Policy. It does not confer inheritance rights or ownership in any way.

Inheritance issues are addressed by other legal instruments such as a "Last Will and Testament" or by your local probate law promulgated by your state.

You may wish to consult with an attorney experienced in probate or inheritance cases for clarification of issues related to inheritance.