Legal Question in Real Estate Law in Florida
Can a bank force flood insurance on my property?
Even though I have flood insurance on my property, the bank placed another policy on it because I failed to show them it. Is this legal?
I don't even owe anything on it since it is an equity line loan and the balance is 0.
Thank-you
1 Answer from Attorneys
Re: Can a bank force flood insurance on my property?
If the loan papers require that type of insurance the bank can require you to maintain it. If you don't then it can obtaqin the insurance and charge you for it. In your case, it seems, at worst that there was duplicate coverage. If you present your policy to the Bank, it should remove the charge.
The fact that you owe nothing to the bank now, is not the question, rather was the property the security for the loan and did you owe the bank money for the secured loan. if you wish to discuss this further, call me at 305-940-8080.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
