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    guyngarr's Avatar
    guyngarr Posts: 1, Reputation: 1
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    #1

    Apr 17, 2007, 11:38 AM
    Lease to purchase contracts
    Lessor states on contract that she is responsible for insurance, comes back 2 weeks later to say we need to get insurance on a lease to purchase!! Can you even get insurance on a lease to purchase property?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Apr 17, 2007, 12:22 PM
    No, you have to own the property to have insurance on the property, they may require you to have a renters policy ( if it is in the agreement)
    And you want one anyway, since you want the liablity and coverage on your belongings in the home.

    I would guess what has happened, is the Lessor did not know that insurance on a rental house is about twice as much as on a home you live in,
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