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Only if the insured incident occured before the sale of the house (and the claim placed prior to sale). It is at the date of the claim not relevant to selling.
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∙ 18y ago
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Do you pay taxes on a house buyout?
You pay tax on the profit from a sale. And get a tax benefit from a loss.
Do you still have to pay back your mortgage if your house for sale?
Of course. Until you pay off the mortgage loan, you have to pay payments on the home.
Why would a lender pay the homeowner insurance?
Actually, the home owner pays the home owner's insurance. The lender has an escrow account. This is in additional to the payment of interest and repayment of principal. The escrow account pays the taxes and insurance. The escrow account pays the taxes so the government does not seize the property. The homeowners insurance pays in case the house burns down. So, you pay into the escrow account, and if your house burns down, the lender gets the insurance money. You would not pay a mortgage on a burned down house and the bank knows that, so they have you pay into the escrow account and they pay for the insurance.
Do you pay capital gains tax on your first house?
Yes it is always possible that may be required to pay some capital gains tax on the sale of your first house.
Does insurance company have to pay mortgage if house fire?
NO, not unless it is a total loss. If your house is being repaired by your insurance policy you must continue to make your mortgage payments.
Which insurance companies pay house insurance claims?
All of them do.
Can your homeowners insurance be canceled if you put your house up for sale and if you just got a policy do you have to wait a specific time if you wanted to list your home for sale?
Your homeowners insurance is not effected by your house being for sale...unless it is vacant. 4lifeguild
Does house insurance pay for broken cameras?
No.
Do you pay taxes on house insurance claim?
income taxes ? no insurance payments are exempt
Do you pay taxes on a house buyout?
You pay tax on the profit from a sale. And get a tax benefit from a loss.
Does homeowners insurance pay your house payment if you cant work?
No.
Will sale of condo by wife affect having to pay taxes on sale of house by husband?
Your tax advisor can answer your question.
Does the next of kin have to pay off a mortgage when the borrower has deceased?
Whoever inherits the house would need to either pay off the mortgage or refinance the house to take ownership of the house. The debt is not paid--unless the deceased had mortgage insurance--and the lien is still due. Of course, the house could be put up for sale, but only if payments are current and not in foreclosure.
Can you use profit from sale of house to pay off home equity loan on same house?
You sure can.
Could you claim on your car insurance if your car burnt your home down?
Sure, you can make a claim for the damage done to the car if you have physical damage coverage. As for the home, only your home insurance will pay for the damage to the house. The house insurance will not pay for a car and an auto policy will not pay for a house. Even if the same incident gets both.
Describe the damages that content house insurance does and does not pay?
Content house insurance covers the items, or content, of the home itself. It does not cover the home as a structure and you will need separate insurance for that.
Do you have to get insurance if you pay cash for a house?
No. If there are no mortgage requirements that you carry insurance then it is completely up to the home owner.
