Posted by arya on December 17, 2000 at 23:10:47:
You are not providing enough information on
what type of policy ? If you are planning to
get some sort of Insurance on home which is not
yours, then you are asking The Bank to do
" Due on sale clause" .
Otherwise, your contract should say,
The Lessor agrees to procure and maintain in force
during the term of this lease, fire, extended
Also your T/B are responsible to have their own policy …
All these terms need to be disclosed
in your L/O Contract.