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What else can I help you with?
What are feudal tenants?
Feudal tenants are the folks who rent betterments from a feudal landlord.
What betterments should be made for transportation?
The Transportation system should be made streamlined to allow for its betterment in terms of good management.
Is an HVAC unit considered personal property or betterments and improvements?
A portable unit would be considered personal property. An installed unit becomes a part of the real property.
What are betterments and improvements in a condo policy?
Two types of insurance cover condominiums:A master policy that insures the common areas, andAn individual unit owner's policy that insures the interior of a unit and its contents.Betterments and improvements apply to the interior of units, and may include upgraded or new, (and which will remain with the unit upon any sale):paintcarpetsappliancescabinetrybathroom furnishingsbuilt-ins, such as a libraryinterior doorsSome master policies cover 'betterments and improvements'; some do not.Best practices indicate that when betterments and improvements are added to a unit's interior, these enhancements must be documented, including receipts, photographs and so forth. Send a copy of these documents to the property manager, so that they become a permanent part of your unit's history.Lacking any documentation, when any claim is made against either policy for betterments and improvements, they will not be covered and the unit will be restored to its original -- as new -- condition, lacking your upgrades and additions.Finally, when it is time to sell, you can showcase your upgrades and additions, which may give you an edge should more than one unit like yours be available for sale in your market.
What has the author Kenneth R Bullis written?
Kenneth R. Bullis has written: 'Bolide guide for tenants' -- subject(s): Betterments, Landlord and tenant, Office buildings, Office leases
What makes up betterments and improvements in a condominium?
This terminology may be being used relative to a master insurance policy and coverage. One definition might be that betterments and improvements could be upgrades to existing fixtures, equipment, appliances and so forth. This is to distinguish these investments from 'additions and alterations', which could be adding a patio or converting a closet to a bathroom, for example. If your question involves insurance, best practices dictate consulting with your broker or carrier to fully understand their definition of these terms. Regardless of who's using the terms, they should define them for you so that you can fully understand them in the context of your situation.
What is the difference between betterments and improvements and additions and alterations in a condo policy?
When buying insurance, it is key that you get an explanation, preferably in writing, from a broker when/if the policy uses any of these terms, to satisfy yourself that you're buying the coverage you need/ want.Here's one interpretation of the terminology, which is not standard:'Betterments and improvements' tend to suggest upgrades of existing fixtures, equipment, appliances and so forth.'Additions and alterations' tend to suggest adding something, such as a new deck or a new bathroom -- addition or alteration to a space used in the past for some other purpose. These terms are most commonly used in commercial policies, but not unheard of in condominium policies.
Is a landlord responsible US for fire damage to tenants property if the landlord indicated he had insurance for that building verbally?
Was the tenant's property attached to the building, such as signs, wall to wall carpet, etc.? Because building insurance typically does not include contents of others but can include permanently installed Tenant's Improvements and Betterments.
What is improvements and betterments insurance?
Improvements and betterments is a type of property insurance for a insured who is leasing space from another. The landlord carries property insurance on the building based on the condition of the building when the lease was signed, or the property in which the landlord has an ownership interest. Often when a tenant leases commercial space, the space is provided as a shell, without the fixtures the tenant requires to carry on operations. Examples of fixtures not provided by the landlord might include interior walls, permanently installed shelving or cabinetry fixed seating, internal wiring or plumbing, or any other property permanently attached to the structure of the building which the landlord does not own. The tenant provides for the installation of these improvements at his or her own expense. This property is not insured by the landlord's commercial property coverage, and often listed separately from the tenant's business personal property coverage. It is building property which the tenant, not the landlord has an ownership interest in and therefore needs to insure. Depending on the insurance policy improvements and betterments may be included in the definition of business personal property or it may be listed separately When it is listed separately it is often done so a rate of insurance based on building property, rather than more portable business personal property can be applied. Mark Walters, ARM AAI West Insurance Group mwalters@westagy.com
You had to file chapter 7 due to unemployment and illness and your home is being sold at sherrifs sale before the last date to make a claim will your realestate taxes be included in the distribution?
The real estate taxes, and any other debt that becomes a lien on the property (like water and sewer charges, betterments) will have to be paid as a priority from the proceeds. The proceeds might be enough to pay them, so selling the house before the auction date might be more helpful. If you have abandoned the property to the C. 7 trustee (subject to the mortgage(s) and other liens), you may not be able to do that.
Tenants Improvements and Betterments TIB who is reimbursed for this in a covered claim Tenant or Landlord?
Look at the lease and the policy (who is loss payee....). Normally TIBs wind up the LL's property but during the term the T is obligated to insure (LL normally would only insure the "shell" since TIB varies from tenant to tenant). Then if there's a loss the question is how are the proceeds to be applied? If the lease will continue then the LL should rebuild with those funds and as long as they were the correct amount LL should fund any deductible and any overage (LL's insurance may dovetail with this). If the lease will end due to the casualty, then the LL gets the $$ because it essentially loses its property and the T is released from further leasehold obligations.
What is a lien recordation?
When a creditor wins a judgment in court against a debtor, the court will issue a judgment lien that can be recorded in the land records against the debtor's real property. Once the lien is recorded the property cannot be refinanced or sold until the lien is paid. In the case of multiple liens, they get paid off in the order by which they were recorded. That is important when there is limited equity in the property. The senior lien gets paid first. Junior lienors are often out of luck. Therefore it is important to record a lien as soon as it is issued by the court. There are other types of liens such as tax liens, mortgages, liens for municipal services and installation of equipment and betterment liens by towns for installation of betterments such as sewer lines, roads and sidewalks.
