Posted by Jon NY on November 25, 2001 at 21:58:27:
I don’t know about suing for breach of contract, but no insurance co. if they knew what you were doing would add you as addl. Insured. You don’t have any financial interest in the property beyond an option to buy.
JH
Insurance on L/P deal-Seller not amending policy - Posted by Paul-WA
Posted by Paul-WA on November 22, 2001 at 23:54:10:
I have a provision in a L/P agreement that states landlord/Seller shall amend his hazard insurance policy, naming the tennant/buyer as additional insured.
After 18 months into this 36 mo. deal, I find seller did not conform to agreement. I am the tennant/buyer, and am using the property as my personal residence rather than doing a sandwich L/P.
What should I do if he refuses? Can I sue for breech of contract and try to get my $5,000 non-refundable L/P consideration back?
Thanks for your advice and help,
Paul