Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
My father-in-law left his New Jersey house to his children and is now on the market. It is however, uninsured. Can the estate insure the now empty house? I'm out of state and just trying to understand if I'm being told the truth.
please insure it before something happens and you are liable....
I work in insurance - I am an underwriter - an uninsured, unoccupied home is a nightmare!!!! Call an agent - they can help
My father-in-law left his New Jersey house to his children and is now on the market. It is however, uninsured. Can the estate insure the now empty house? I'm out of state and just trying to understand if I'm being told the truth.
Call an Agent immediatly. An Empty house is a liability and must be insured. For decent pricing in NJ, you could call State Farm.
I think everyone is assuming that you are the legal representative of the estate (e.g., executor or administrator). The house should definitely be insured immediately, otherwise you as executor will be personally liable for any loss to the estate from damage, destruction, etc. Based on my experience, the insurance company may ask you to board the windows, doors, etc. if the house is vacant. However, if you are not the executor, only that person has legal authority to obtain the necessary insurance coverage.
Hope this helps.
Last edited by MJCM; 09-10-2007 at 07:34 AM..
Reason: typo
I think everyone is assuming that you are the legal representative of the estate (e.g., executor or administrator). The house should definitely be insured immediately, otherwise you as executor will be personally liable for any loss to the estate from damage, destruction, etc. Based on my experience, the insurance company may ask you to board the windows, doors, etc. if the house is vacant. However, if you are not the executor, only that person has legal authority to obtain the necessary insurance coverage.
Hope this helps.
If it remains empty maybe you should also take an umbrella policy on it because if anyone falls on the property the estate can be libal to a lawsuit.
Just think if a Child ran on it with a ball and fell. People sue for any reason today. I always carry that type of Insurance.
Thanks guys,
I'm not the executor, but maybe if the co-executors are made aware of their personal liability, they will insure. The house is for sale. I'm worried about a buyer falling on the property.
Jim
In order to convince my family to insure this house, I'd need to be able to send them something in writing...a statute or something. I live in the midwest and they are hard headed. Any ideas?
Jim
Have you spoken to the lawyer handling the probate?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
