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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7408
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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I manage a 4,000 lot land development HOA in Indiana. Last

Customer Question

I manage a 4,000 lot land development HOA in Indiana. Last year we paid $46,272 in Insurance for General Liability on all 4,000 lots. Why are we responsible for this when most of the property is owned by an individual, the HOA owns none of them? I understand the common areas, lakes clubhouse, roads so forth but the lots??
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Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Irwin Law replied 2 years ago.

Mike: If there are other features also covered, you can't tell how much cost is attributed to the 4,000 lots. It may be possible for the insurance company to separate out the lots from the other features, so the cost can be apportioned between the HOA and the individual owners. Failing that, the HOA may apportion the premium among all owners in some equitable manor and charge it as part of dues and assessments.

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