Comments on: I sold a house on land contract. How should I handle the house insurance. In my name still? http://homeinsuranceblognow.org/renting-real-estate/i-sold-a-house-on-land-contract-how-should-i-handle-the-house-insurance-in-my-name-still/ Home Insurance Information Blog Thu, 27 Nov 2008 07:24:21 +0000 hourly 1 By: Classy Granny http://homeinsuranceblognow.org/renting-real-estate/i-sold-a-house-on-land-contract-how-should-i-handle-the-house-insurance-in-my-name-still/comment-page-1/#comment-71 Classy Granny Tue, 25 Nov 2008 03:36:04 +0000 http://homeinsuranceblognow.org/ps/21#comment-71 It's his home as long as he is making regular payments to you. He needs to carry his own insurance. I'd make sure he keeps it current and if he fails to do so you can threaten to take your house back. It’s his home as long as he is making regular payments to you. He needs to carry his own insurance. I’d make sure he keeps it current and if he fails to do so you can threaten to take your house back.

]]> By: barbowork http://homeinsuranceblognow.org/renting-real-estate/i-sold-a-house-on-land-contract-how-should-i-handle-the-house-insurance-in-my-name-still/comment-page-1/#comment-70 barbowork Mon, 24 Nov 2008 15:57:02 +0000 http://homeinsuranceblognow.org/ps/21#comment-70 You definitely need to insure the house as long as you own it. The person that is in the process of making payments on the house should consider a form of renters insurance to protect his belongings. If the house is financed, the bank would require you to keep insurance. If you own the house free and clear, I would still definitely keep insurance coverage on it. Otherwise, if it were to burn, the house is gone, your buyer has no obligation and you end up with a vacant lot. You definitely need to insure the house as long as you own it. The person that is in the process of making payments on the house should consider a form of renters insurance to protect his belongings. If the house is financed, the bank would require you to keep insurance. If you own the house free and clear, I would still definitely keep insurance coverage on it. Otherwise, if it were to burn, the house is gone, your buyer has no obligation and you end up with a vacant lot.

]]>