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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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I have a Condo unit in a 10 unit building. Can a bank place

Customer Question

I have a Condo unit in a 10 unit building. Can a bank place wind coverage insurance. Condo Association has self insured or decided not to purchase wind coverage. I only own the inside. Can they place coverage and add it to my loan when I do not own or control the exterior of the units.
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  Ely replied 2 months ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry to hear about this situation. To clarify please, does your mortgage contract require wind coverage?

This is not an answer, but an information request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.

Customer: replied 2 months ago.
I had the mortgage for 14 years with a bank that failed and it was taken over by TD Bank for FDIC over a Weekend. During that time I did not have to have wind coverage, only after a couple of years TD Bank begin to require the coverage and placed single interest coverage and added the amount to my monthly payment.
Expert:  Ely replied 2 months ago.
Thank you. I understand, but that does not answer my question, actually. Look at your original mortgage contract with that failed bank. Is wind coverage mandatory? Or, not sure?
Customer: replied 2 months ago.
I do not want to continue this conversation. I can see it is leading to too much additional cost. I am not satisfied with the answer received.
Expert:  Ely replied 2 months ago.


I have not had a chance to render an answer. I sent one information request twice, which was "does your original contract require wind insurance?" This information is needed to answer your question and without it, I could not do so. no one could. Also, there is no additional cost for the back and forth.

Anyhow, I am sorry that you are not happy. You can contact customer service at for a refund. All the best!

Customer: replied 2 months ago.
I don't know what the original mortgage required. My question is "How can I be forced to carry coverage on the outside when I have no ownership or control of the common areas of a condo"? I believe that should be a simple answer regardless of the loan documents.
Expert:  Ely replied 2 months ago.


With all due respect, you are incorrect. The answer hinges on your original loan contract and any modifications to said contract. Also if the mortgage does indeed have that requirement but has tacitly waived the requirement, the doctrine of promissory estoppel may apply. Finally, there is the matter of whether or not the Association's bylaws and CC&Rs have requirements for wind coverage.

As you can see, this is not as simple as originally thought. Regardless, I wish you the best.

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