Reminder for your Landlords to check their insurance

Discussion in 'Property Management' started by Michael Mitchell, 8th Jan, 2019.

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  1. Archaon

    Archaon Well-Known Member

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    Your username is so apt for this statement.
     
    Archaon, 9th Jan, 2019
    #21
    datto, craigc, Tom Rivera and 2 others like this.
  2. Kuna_Learner

    Kuna_Learner Active Member

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    Do you guys know of TICA insurance brokers. They quoted me far less on a landlord insurance policy than the so called traditional insurers
     
    Kuna_Learner, 22nd Oct, 2019
    #22
    Michael Mitchell likes this.
  3. Beano

    Beano Well-Known Member

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    Yes it seems like it is pretty common these days to die .
    I would not be surprised if it happens to everyone :)
     
    Beano, 22nd Oct, 2019
    #23
    datto likes this.
  4. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Im not aware of any LL policy that does not cover loss due to death. Even suicide. But non Ll policies wont. Each LL policy has varying degrees of cover

    Death allows a sale or purchase contract to be void. Dead people cant be held to a contract
     
    Paul@PAS, 23rd Oct, 2019
    #24
    Michael Mitchell likes this.
  5. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    This is not true. Dying doesn't get people out of contracts, they are still binding on the legal personal representative.
    Under the NSW contract for the sale of land death is not something that voids the standard contract. This would need to be inserted as a special condition if desired - and as a seller you would probably want this.
     
    Terry_w, 23rd Oct, 2019
    #25
    Michael Mitchell likes this.
  6. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Tell the nsw public trustee. They avoid fulfilling a contract. Drag things out. Then charge for legal advice
     
    Paul@PAS, 24th Oct, 2019
    #26
  7. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    any breach of contract could result in litigation. Trustee could be personally liable.
     
    Terry_w, 24th Oct, 2019
    #27
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