on a rent to own home who's responsible for the homeowners insurance? and can i be evicted for not supplying it

Asked by Will Rosbrugh, Mishawaka, IN Sun Aug 4, 2013

my landlord said i am to carry insurance on the home and that i am to pay property taxes but my name is not on the deed yet so how am i responsible if the home is not mine?

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4
Lauras70.ls, Home Buyer, Ellenwood, GA
Mon Aug 17, 2015
I rent to own and I don't have renter insurance but the home owner has insurance. The utility building burned down with our washer and dryer and freezer,tools and etc. Can they help replace the utility building?
0 votes
McKinnies Re…, Agent, Mishawaka, IN
Thu Nov 14, 2013
Your landlord is pushing the limit on your responsibilities. You should have your own renters insurance for your personal belongings but until you own the home you shouldn't be paying the homeowners insurance. However, you and the owner can negotiate whatever costs in your specific contract. The landlord should also pay the property taxes until you own the home too. I think you're dealing with a very hands off owner. I, as an owner wouldn't want those 2 very important property details to handled by a tenant. That may be an alert to you about the owners professionalism.
0 votes
Mack McCoy, Agent, Seattle, WA
Sun Aug 4, 2013
- i think the insurance was a verbal agreement i looked up real estate laws and it said NO MATTER how the contract is written he is responsible he is threating to kick me out if i dont provide insurance can he do that or can i fight it in court?

Let's look at this another way. How much money do you have in this deal so far?
0 votes
i moved into the house in Dec 2012
Flag Sun Aug 4, 2013
700 in taxes about 400 or 500 in home owners insurance and 3,200 in the monthly house payment
Flag Sun Aug 4, 2013
Ron Thomas, Agent, Fresno, CA
Sun Aug 4, 2013
I have been warning people about Lease/Option for years;
consider yourself properly warned:

a
lease?option contract can be written any way the Principles want;
Property taxes are the responsibility of the OWNER; if you stopped paying they would file against HIM, but you would be breaking the contract! see?
the same with the insurance.
you should have RENTER'S INSURANCE, but FIRE insurance has to be done by the owner, (you couldn't be the beneficiary of a house you don't own! see?
0 votes
i think the insurance was a verbal agreement i looked up real estate laws and it said NO MATTER how the contract is written he is responsible he is threating to kick me out if i dont provide insurance can he do that or can i fight it in court?
Flag Sun Aug 4, 2013
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