An Owner's Policy only covers the actual owner of the property. When the property is awarded to a party in divorce proceedings, that person remains "in title" (still on the deed) and the original Owner's Policy is still in effect covering that person since they were on the original deed as well when the property was obtained.
The non-titled (person who was not awarded a continuing interest in the property by the divorce decree) automatically falls off the title policy since their interest is transferred off by the divorce proceedings and they no longer own the property.
If you are looking to take the ex-spouse off an existing deed as the result of divorce proceedings, contact your real estate attorney and s/he can prepare the proper deed vesting the interest solely into the awarded spouse with the proper legal language referencing the divorce decree.
Answering "http://wiki.answers.com/Q/If_you_are_divorced_and_your_spouse_has_not_refinanced_the_house_to_take_your_name_off_title_-_does_the_homeowner%27s_insurance_have_to_be_in_both_names_in_the_State_of_Illinois"
You need written consent. Shouldn't be too hard to get, since you will be assuming the entire loan yourself. Getting the spouse off the title is a bit more complicated.
A Lender will require a Lenders Title Insurance policy if they are extending credit on a property. The Lenders title insurance policy is based off of the Loan amount that the borrower receives. It will only protect the lenders interest in the property if a problem arises on title.
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.
I think you are asking two different questions here. (1) Mortgage Insurance insures your life in order to pay off your mortgage if you die. (2) Title Insurance ensures that the company guarantees and will defend your title and deed to your house that it will stand a test in court if someone should ever challenge your ownership of the property. I do NOT recommend getting mortgage insurance. You could just as easily buy term life insurance for less money to do the same thing. I DO recommend getting title inusrance.
Answering "http://wiki.answers.com/Q/If_you_are_divorced_and_your_spouse_has_not_refinanced_the_house_to_take_your_name_off_title_-_does_the_homeowner%27s_insurance_have_to_be_in_both_names_in_the_State_of_Illinois"
As long as you have the title that he signed off of it and you signed on and you have insurance on the vehicle it will be covered.
If the car was awarded to you in the divorce then you should present the order and the title to the DMV.
Nothing. In fact, they don't require a copy of the title. I recently got my pink slip and called my insurance and had them take off the loan company. That was it .
Actually Yes he can. If there is no court order to the contrary you can add and remove anyone you want from your own insurance policy.
Life insurance is a contract between the insurance company and the insured. I have never encountered any laws that allow a spouse to take priority over the beneficiaries designated by the insured. Many companies have rules that if the wife is not designated as the beneficiary on the company provided life insurance, the spouse must sign off on the policy before it will be issued.
Many insurance companies will not let you change your beneficiary, if it is your spouse, without their knowledge. You will have to contact your insurance comapny to find out. Contact your insurance company. Your spouse won't know you've changed it. If they need to send you a new policy, ask them to let you pick it up at their local office. If they can only mail it to you, be sure to collect the mail before your spouse sees it.
You need written consent. Shouldn't be too hard to get, since you will be assuming the entire loan yourself. Getting the spouse off the title is a bit more complicated.
If the insurance writes off the vehicle - they get YOUR title document - and THEY then forward it to the DMV informing them that the vehicle is scrapped.
Very likely it vaires a great deal from state to state, and maybe city by city
A Lender will require a Lenders Title Insurance policy if they are extending credit on a property. The Lenders title insurance policy is based off of the Loan amount that the borrower receives. It will only protect the lenders interest in the property if a problem arises on title.
If the mortgage is in your name it would not be affected by the death of your spouse. Mortgage life insurance is coverage that is taken out so that your house would be paid for in the event of your death.