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Mortgaged property damage do you need to replace to get money?
Kpotti
our garage burned down and it was insured for 19,000. If we only replace it with a shed, do we get the balance?
Wiki User
∙ 15y ago
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Difference between simple mortgage and English mortgage?
In a simple mortgage,the mortgagor without delivering possession of the mortgaged property binds himself personally to pay the mortgage money and agrees expressly or impliedly that if he fails to pay the debt and interest in terms of the mortgaged deed, the property will be sold and the proceeds applied in payment to the mortgaged money.In an English mortgage,a mortgagor binds himself to repay the mortgaged money on certain date and transfers the mortgaged property absolutely to the mortgagee subject to the provision that he will re-transfer it to the mortgagor upon payment of the mortgaged money as agreed.
In monopoly if a property is mortgadged with houses or hotels on it what happen to the houses or hotels?
When A Hotel Or House Is Mortgaged, you get the money they serve you... then if anyone comes to it, they wont pay you
Do you have to have buldings insurance on a mortgaged property by law?
I doubt that the law requires it, but your mortgage company certainly does - if your house is damaged beyond repair and you depart, the company will want the means to get its money back.
If insurance company sends a check for roof replacement and one get it 'fixed' does he has to send the money back to insurance company?
Most policies will pay for roof damage on an "Actual cash value" basis until the roof is replaced. Then, IF you have replacement cost coverage they will make up the difference of the amount paid under actual cash value and actual replacement cost, LESS the amount of your deductible. If you elect not to repair or replace the roof, your insurance company could exclude your roof from further damage or additional payments until you show the monies paid to you were used to repair or replace as indicated by their estimate and claim payment. Otherwise, the money is yours unless the home is mortgaged. If it is mortgaged, the check should have been made to you and the mortgagee, and if the mortgagee endorses it it is yours.
How long can you mortgage property in monopoly?
when its your turn you can mortgage a property so long as you own the property and it has no houses or hotels on it. to mortgage it you just flip the card over and take from the bank however much it says the mortgage is worth (this is always half the value of the street). people who land on your street when it is mortgaged do not have to pay the rent. you can unmortgage your street when it is your turn again and if you sell or trade the street to another player when it is mortgaged then that player must adopt the mortgage and pay it themselves.
When a crash results in property damage who should you contact?
1. Your insurance agency, if you don't have it, your paying for the car yourself 2. A property damage lawyer, so you don't get sued for ridiculous amounts of money
How do you repair property damage on Mafia Wars?
if your property is damaged, an icon will appear on the page that says repair cost. if you have enough money and click repair, the life of the property will be back to full.
When a case is closed and the only money collected is less than the amount of judgment what happens?
Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.Return to the court and request a judgment lien. It can be recorded in the land records and any real property owned by the defendant cannot be mortgaged or sold until the lien is paid. The judgment lien can also be used by the sheriff to seize any other personal property to satisfy the amount owed.
How much money did they spend repairing hurricane katrinas damage?
total property damage was estimated at $81 billion (2005 USD)
Does a loan against a house and land override the will?
The loan doesn't 'override the will'. It is a matter of rights in property and debts. The debts of a testator must be paid before any property is distributed to the heirs. In the case of a mortgaged property, the testator doesn't own the property free and clear so she can't give it to her heirs. She conveyed it to a bank in return for a large sum of money while she was living. The bank owns a security interest in the property until the money has been repaid. The heirs have the option of paying the loan on the property (if they want to keep it), conveying their interest to the bank or or allowing the bank to take possession by foreclosure.
Can a landlord get a judgment for more then what rent is owed?
If there is any damage to the rented property he can get additional money to compensate; otherwise he is limited to the rent owed.
Do you get money when you are in a car accident?
ANSWERIn most states the statue of Limitations is:1). Personal Injury- 2 years2). Property Damage- 3 years
