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    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
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    #1

    Jan 23, 2017, 07:54 AM
    What Happens if a House Burns Down
    The wife owns the house husband is not on the deed. Husband has a Policy on the House and say it burns down. Who gets the money? Is the wife left without a house? Does the Husband get the Money? Wife is not on the Insurance Policy.This is in Maryland. Weird I know.
    ebaines's Avatar
    ebaines Posts: 12,130, Reputation: 1307
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    #2

    Jan 23, 2017, 10:02 AM
    I believe the answer is: no one gets any money from the insurance company if the house burns down. If the husband has no ownership stake his insurable interest in the property is $0, and that's how much the insurance company would pay him.

    In general it makes little sense for someone whose name is not on the deed to take out homeowner's insurance. The only advantage is he may be covered for personal property and personal liability, but if the house is destroyed in a fire he won't be covered. And needless to say if the wife is not a named insured then she gets nothing if the house burns down.
    catonsville's Avatar
    catonsville Posts: 894, Reputation: 91
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    #3

    Jan 23, 2017, 12:27 PM
    Thanks EB, that is what I learned from my nephew who is a lawyer. He also said that the man would likely get his payments returned and the house is a total loss no insurance payment would be received by either party.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,303, Reputation: 7691
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    #4

    Jan 23, 2017, 05:21 PM
    To purchase insurance a person must have an insurable interest in the house. If the state is a community properly state, then he does, even if his name is not on the deed. But also, if there is a mortgage, is his name on that. Since owing the debt would become an insurable interest.
    ma0641's Avatar
    ma0641 Posts: 15,681, Reputation: 1012
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    #5

    Jan 24, 2017, 04:21 PM
    As noted above, Insurable Interest is the key. Let's say you know your next door neighbor is very Ill and will die soon. You try to take a policy out on him. No insurable interest.
    Alty's Avatar
    Alty Posts: 28,318, Reputation: 5972
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    #6

    Jan 24, 2017, 04:56 PM
    If the husband is not on the deed, the insurance policy is useless. It's like taking out insurance on a car that belongs to your friend and then hoping to collect when it's trashed. He has no insurable interest in the house as he doesn't own the house.

    The wife also gets nothing, as she didn't take out the insurance on the house.

    In other words, the insurance policy is null and void, unless the wife actually took out the policy, is named in the policy as the homeowner, and the husband just paid the premiums. If the policy is in the wife's name, then she gets the money. They don't care who pays, but they do care who gets the payout.

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