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Bank properties - insured?

Moyglish · 2015-07-01 17:26:32

Was talking to a friend earlier re: repossessed properties owned by the banks that are sitting vacant and the topic of insurance came up. I presume that the previous house owners aren't paying any home insurance if they've relinquished their homes to the banks, so does the bank have insurance for all the idle property they…

01-07-2015 5:26pm

#1

Moyglish

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Was talking to a friend earlier re: repossessed properties owned by the banks that are sitting vacant and the topic of insurance came up.

I presume that the previous house owners aren't paying any home insurance if they've relinquished their homes to the banks, so does the bank have insurance for all the idle property they have on their books these days, or would some of these houses be left uninsured?

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Comments

#2 17-07-2015 9:54pm

Penguino

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Join Date: April 2010

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They are just added to the banks/receivers insurance policy

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