Hello to all, I have some questions about the types of insurance policies that a person should have if he wants to participate in a subject 2 or lease option transaction.
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In a subject 2 transaction, should an investor obligate the owner to list him as additional insured?
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In a subject 2 transaction, should the investor obtain a separate, independent policy in his name?
a) If the investor obtains a separate, independent policy, can this raise flags with the lender? -
If you extend a lease with option purchase to a owner, and your plan is to also extend a lease with option to purchase with a tenant/buyer, what policy would be most applicable in this scenario?
a) General commercial liability insurance
b) some type of non-owner occupied policy
c) Can the investor list himself as “additional insured” although he does not own the property (he does not have title or the deed to the property) -
In the rental contract that you extend to your tenant/buyer, should you obligate the tenant’s to obtain renter’s insurance? Is it legal to stipulate that the tenant/buyer must obtain renter’s insurance?
Thanks to all for reviewing my post.