Legal Question in Insurance Law in Wisconsin

Is It Legal?

I co-own and reside in a farmhouse here in Wisconsin. I have lived here alone for nearly 12 years. One of my two fellow co-owners (one of two step-brothers who have never resided here (took out an Insurance Policy on the house (and my possessions!)over ten years ago without my knowledge or approval. The farmhouse burned to the ground just last month. Now they are claiming since they co-own part of the property, they are each entitled to a third of the Insurance money on the house. Are they?

Note: The Insurance Policy names me as the ''Insured'' person. They claim they had to do this to get the Insurance because they are non-residents.


Asked on 11/20/04, 10:41 pm

1 Answer from Attorneys
Mark Mahoney Cassiani Law Office, Wise Shepherd Law Office

Re: Is It Legal?

Hello,

I have never had a case like this and you have not hired me to do any research. However, it may well be that you can collect the money because you are the insured. Your brothers would continue to own 1/3 of the real estate, but not the money, unless you had some agreement with them as to what happens if the house burns down. The only other thing is if there is a mortgage on the property. If there were, the bank would make you insure the property. If there is no mortgage, there is no rule that I know of that says real estate has to be insured if someone lives out of state. Again, I am not certain that the insurance works this way, it is just my guess without the research, however, you should contact the insurance company and confirm that they are just making one check out payable to only you. Once you get the money, they have to sue you to get anything, and by then you will have figured out what your rights are for certain.

Best wishes, Mark J. Mahoney 920-984-4529

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Answered on 11/21/04, 8:30 am


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