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For clarification, how did Chase come to be in possession of the check from your insurance company?
There is no reason to turn your right to payment over to chase. While Chase does have an interest in the repairs to the home, they do not have a right to payment for the other buildings, and do not have the right to impose thr 90% requirement, if doing so would be unreasonable or is not part of your contract with Chase. You can solve the problem by calling the insurance company and having them cancel the check and three issue two of them, instead. The first check should be for the buildings that have no affiliation with Chase and should be made out to you, only. The second check can be made out to both you and Chase, although this may pose problems If you are notable to pay for 90% of the repairs prior to reimbursement. If you find that to be the case, consider requesting that the joint check also be divided into proportionate shares by the insurance company. That way, you can actually make the repairs for which the check is intended, rather than have it held up, indefinitely.
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All the best,
-- Attorney 1
The insurance company can and will split the checks, if necessary. In the alternative, they will be forced to file an interpleader action with the court, which they most certainly will not want to do. An interpleader action means putting the entire amount of insurance proceeds into deposit with the court to avoid potential liability when he threatened to sue them for bad faith. This is the only thing they can absolve them of liability, other than splitting the checks. Therefore, my guess is that when you speak with the manager they will split the checks. I've never seen an insurance company ultimately refused to do so. Hang in there and stick with it, and send written notice to the insurance company of your intent to take legal action against them if they refuse to release your proceeds. There is simply no reasonable excuse for adding Chase is a payee to an insurance claim for buildings in which it has no interest.
Your insurance agent has no authority and likely no clout to handle this matter. The insurance company does not need to pay any attention to the agent. Consider hiring local counsel to write a demand letter and the checks split. That attorney can force and interpleader action, if necessary. A good referral source will be your County Bar Association. There will be no charge for the referral, and no charge for the initial consultation with the attorney to whom you are referred. If the attorney takes your case, there may be no out-of-pocket fees or expenses to pay, either. If you are hitting dead ends everywhere else and don't have unlimited time for this mess, an attorney is a very good option.
You are most welcome. Best of luck!
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Best,-- Attorney 1
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