WHERE CAN I BUY LENDER INS.[FORCE PAYEE]. I AM A FIRST LIEN HOLDER 500,000.00 ON A MOTEL IN TX AND OWNER IS NOT PAYING PREMIUMS.
Total Comments: 2
Posted: Sat Apr 16, 2011 11:27 pm Post Subject:
dont really know but you can visit http://www.directautoinsurancenow.com they have useful tips
Posted: Sat Apr 16, 2011 11:53 pm Post Subject:
Talk to any agent/broker who handles commercial property risks. This is not a difficult situation.
But, before you try and charge the mortgagee for the cost of the insurance, you'd better be sure that your mortgage contract provides for you to do that if the mortgagee fails to obtain the property insurance. Try to collect something that is not governed by the contract and you'll be thrown out of court . . . even in Texas . . . on a matter like this. And just to be on the safe side, you'd better make sure there's even a provision in the contract that requires the mortgagee to obtain insurance. You'll need to quote those provisions in your breach of contract suit/response if it comes to blows.
Posted: Sat Apr 16, 2011 11:27 pm Post Subject:
dont really know but you can visit http://www.directautoinsurancenow.com they have useful tips
Posted: Sat Apr 16, 2011 11:53 pm Post Subject:
Talk to any agent/broker who handles commercial property risks. This is not a difficult situation.
But, before you try and charge the mortgagee for the cost of the insurance, you'd better be sure that your mortgage contract provides for you to do that if the mortgagee fails to obtain the property insurance. Try to collect something that is not governed by the contract and you'll be thrown out of court . . . even in Texas . . . on a matter like this. And just to be on the safe side, you'd better make sure there's even a provision in the contract that requires the mortgagee to obtain insurance. You'll need to quote those provisions in your breach of contract suit/response if it comes to blows.
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