0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Sal paid his annual homeowners insurance on January 10th. He eventually sells his property on March 27th. How will Sal's homeowners insurance be categorized on the settlement statement?
Sal paid his annual homeowners insurance on January 10th. He eventually sells his property on March 27th. How will Sal's homeowners insurance be categorized on the settlement statement? Sal will receive a credit for the homeowners insurance paid after March 27th. Sal will receive a debit for the homeowners insurance paid after March 27th. The buyer will receive a credit for the homeowners insurance paid after March 27th. The buyer will receive a debit for the homeowners insurance paid after March 27th.
When a homeowners insurance company pays a claim do the homeowners have to use it?
Not necessarily, but should you suffer a loss involving that area again and it is unrepaired you will not be paid again for that damage, or the amount paid this time will be deducted from the new claim...Also you mortgagee may have to sign off on it. You normally have 180 days to have repairs completed. If you have a mortgage most likely your mortgage company will force you to make the repairs. remember... they own your home until its paid off. Best thing to do is complete the repairs.
Do you pay taxes on a homeowners insurance settlements caused by hail damage?
The amount paid to replace a roof is not taxable unless you tried to take a deduction for a casualty loss on your taxes for this.
How did President Obama help homeowners?
he paid for their homes
Why should you have insurance if it paid for house?
if you paid cash for the house do you need homeowners insurance
Does homeowners insurance pay the loss to the homeowner or the lender?
The leinholder is paid off first, then anything remaining goes to the homeowner. This is usually done with a check that is made out to both the lender and the homeowner.
What is one of the main benefits on homeowners insurance?
assets of loss
Does homeowners insurance continue after the owners death?
Homeowners insurance will continue after an owners death. The Homeowners insurance policy will typically be paid for by the executor of the estate and become his or her responsibility.
Can a homeowners association file a lien against you for overdue fines only if assessments and dues are all paid.?
If your assessments and dues were overdue when you paid them and if the homeowners association has the right to assess overdue fines then the answer is yes.
Are condo fees covered by homeowners loss of use?
Your individual (HO-6) policy will detail whether or not your monthly assessment payments are covered when you loose use of your condominium. Your insurance agent will be able to answer this question for you regarding that coverage.You can also check the master policy to see if you are covered, based on the cause of your loss of use. (Usually the master policy premiums are paid by your assessments.)Your board of directors or property manager can help you understand your coverage under the master policy.
Does my homeowners insurance pay for your loss of pay when you fall in your own home and out of work?
No
Does my homeowners policy paid my house payment while I am off work the sable?
No.
