by isabella_tan » Fri Sep 12, 2014 03:56 am
My TX property caught a fire and insurance company estimated $26K replacement cost - $8K depreciation cost = $18K net claim. Repair was done by contractor and I got this recoverable depreciation check of $8K, payable to me and contractor, wondering which party should keep it? and how can I deposit this check?
Do I get contractor to endorse the check, then I can deposit?
Do I get contractor to endorse the check, then I can deposit?
Posted: Sun Sep 14, 2014 11:36 pm Post Subject:
wondering which party should keep it?
The party that is owed the money keeps the money. If you still owe the contractor a balance due, you sign the check and give it to him. If you are paid in full for your repairs, then the contractor signs the check and you can do with it as you please.Add your comment