Keller Williams Realty - January 2019

Proper Insurance Coverage Is Your Responsibility

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Going through a divorce is a tough time for both parties. It leaves so many questions about what to do with the house. I wrote this book to help couples in this situation and guide them on the best ways to deal with their house. You hear so many stories about fighting, problems, and unfair distributions. Navigate a Divorced Home Situation

Anyone who has a property insured has a fiduciary responsibility to make sure the property is insured correctly. For example, if the property is vacant, or if it is rented out to someone else, the insurance requirements will be different from the standard requirements for homeowners insurance. Generally, leaving a property vacant for a few days is not a problem, but if the property is going to sit empty for more than 30 days, most insurance companies expect the owner to let them know the property’s status. They can then cover the home for the real risks it has, which are somewhat different when the property is empty or rented out versus when it is used as a permanent home. Sometimes this step is missed, and that happens when there is a trustee or personal representative taking care of an estate. They can forget to do this or not realize it needs to be done. Then, if there is a fire, someone gets hurt on the property, or there is another kind of issue that arises, the owner may be liable. The insurance company may also refuse to pay, because the property was not correctly insured. That can lead to serious problems for a homeowner or for the estate of a person who has passed away and left their home to be settled. For example, when a person dies and they were the only one who owned their home, they may will it to someone else. The deed to the house will need to go through probate, and during that time, the house is empty. If there is a fire during the period in which the house still belongs to the previous owner but is vacant, the insurance company can deny the claim and refuse to pay. This can be devastating for the estate, but fortunately, it is easily avoided by getting the proper coverage for the home.

This will answer all those questions and more. It covers the implications of going to court over the house, dealing with uncooperative spouses, and everything else to get you through this difficult time. Don’t let a situation in which you want to sell your home quickly or cash out with your spouse as fast as possible cost you thousands of dollars. Get your free copy of the book now!

Sell Your Inherited Home and Navigate the Process

Inheriting a home from a loved one who passed away can be a very difficult time. Unfortunately, you’ll likely be forced to make a decision about what to do with the estate and maybe make that decision with other family members. That’s why I wrote this book — to guide you through this process that can be tough on entire families. I break down the legal aspects, the best strategies, prepping the home , and even dealing with uncooperative family members.

Get a free copy, and be prepared to make the right choices after the loss of a loved one.

The materials in our newsletter are for informational purposes only and do not convey legal advice.

2 | Berkshire Hathaway HomeServices | For more information (301) 660-6272 | | Serving MD, DC, & VA

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