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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 33791
Experience:  15 yrs estate law, real estate. Wills/Trusts/Probate
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This question is for attorney Barrister, only please dont

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This question is for attorney Barrister, only please don't attempt to answer if you are not attorney Barrister
Hello, attorney Barrister, Happy July 4,
I, spoke with an attorney in regards XXXXX XXXXX and amend it to include a cash transaction on July 16,XXXXXdate. I, have a signed contract since 11/4/2011, earnest money sent to the guardian attorney, death certificate of father, certified bank letter for available funds for closing 5/13, estimate from the state on nursing home lien, which appears most the money will go to the state,
after two liens from the city is paid off. Utilities and taxes will be left to settle which haven't been paid according to the guardian accounting submitted on Jan 2013. I, paid the taxes on the ward home this last year, and would like a credit.
My concern is that there is no homeowner insurance on the real estate. I, would like to purchase homeowner insurance if I, can in the name of the ward and myself, and when the real estate transaction is sold to me, remove the ward name. The real estate is vacant this may prove to be difficult or costly.
Should I, seek to have a motion prepared requesting the court, to approve the contact and amend it to allow for a cash transaction, to place homeowner insurance policy on the real estate in case something happens to the real estate property, so the insurance policy doesn't be place in the ward estate, and be used to repair the real estate. Can I, make an oral request on July 16, 2013 when I, appear in court on July 16, 2013.
Hello again and Happy July 4th to you as well.
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My concern is that there is no homeowner insurance on the real estate. I, would like to purchase homeowner insurance if I, can in the name of the ward and myself, and when the real estate transaction is sold to me, remove the ward name.
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No insurance company is going to write a policy for you if you don't own the property. So getting it in your name and the ward's name is XXXXX XXXXX going to happen. They might normally write it in the ward's name, but if it is not occupied, I haven't seen an insurance company that will write a policy on a vacant home. There is just too much risk of loss there. Someone could set it on fire, something could happen inside the home like a broken pipe or electrical fire, lightning could strike it and burn it down....there are just too many risks for an insurance company. I have had clients that had insurance on unoccupied properties and as soon as the insurance company found out it was unoccupied, they dropped the coverage.
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So yes, you can ask the judge to allow you to try to get insurance on the property in both your names until the sale is concluded and the judge should allow it. But the reality of it is that you will likely have a hard time finding an insurer to write a policy on the house if it is unoccupied.
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Thanks.

Barrister

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If you need further help, just reply to me via the “REPLY” button and I will be happy to continue.

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I cannot enter into an attorney client relationship, this is a public forum, and all posts are available for public viewing. There is no duty of confidentiality that attaches to any posts. The information provided is not a substitute for a local attorney’s legal advice.

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