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Updated almost 18 years ago,

Mike Mitchell's profile image
Mike Mitchell's profile image
Mike Mitchell
  • Real Estate Investor
  • from Lubbock, TX
  • Member since Jan 29, 2008
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User Stats

182
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10
Votes
Mike Mitchell's profile image
Mike Mitchell's profile image
Mike Mitchell
  • Real Estate Investor
  • from Lubbock, TX
  • Member since Jan 29, 2008
Connect
Mike Mitchell
  • Real Estate Investor
  • Lubbock, TX
10
Votes |
182
Posts
General Real Estate Investing

are insurance proceeds held in a trust?

Mike Mitchell
  • Real Estate Investor
  • Lubbock, TX
Posted

I'm about to make an offer on a house owned by a mentally ill man. He received $9000.00 from his insurance company several years ago to reroof, but he never got the work done. He tells me that those funds are held in a trust by the state of Texas and can be accessed for a new roof on that property. Do any of you guys or gals have experience with this sort of thing?

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