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Updated about 13 years ago,

User Stats

228
Posts
75
Votes
Phillip Gainey
  • Michigan
75
Votes |
228
Posts

Seller Financed property, seller not placed on Insurance Policy

Phillip Gainey
  • Michigan
Posted

A friend of mine sold a property in Memphis a few months back offering seller financing. The buyer never placed him on the insurance policy as "mortgagee". He has tried to get the buyer to do so, to no avail. All she has to do is call the freaking Ins company and have him put on the policy!

What are his legal options?

Oh yeah, and he has had to chase after her most months for payment. Seems she is always "out of town".

Thanks

PG

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