Joint Landlords Insurance - Only one has it?

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    Joint Landlords Insurance - Only one has it?

    I am currently going through a divorce with my husband and we are joint owners of a business property which contains 2 offices and 1 retail shop.

    I have found out he has taken out a business insurance policy on the property JUST in his name ONLY. Not mine at all. However I have rang natwest to try and then get an insurance policy in my name for the property but they said they won't give me a quote for those circumstances.

    Is it even legal what my husband has done to get an insurance policy out on a building whereby I'm the joint owner and I'm not on the policy?

    Thanks in advance!

    #2
    The policy presumably covers the whole property; so insurance by only one of two joint owners must be for the benefit of both. You cannot think it wise to create double insurance; what on earth would be the benefit of that?
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      I understand that, I don't want two policies. But I do not speak to my husband, we are both joint owners, it is not my doing to have two separate policies. If anything I want his policy invalidated. I mean is it legal what he has even done. You kind of didn't answer my question, sorry :/

      Comment


        #4
        what you should do is write to the insurers with a copy of the registered title which can be downloaded from the land registry website for £4 per title; and inform them that you have an insurable interest in the risk, as co-propropietor but for administrative convenience they may continue to apply to your soon to be ex husband for the renewal premium. This should mean that in the event of a major claim you are not out of the loop.

        Comment


          #5
          Originally posted by Pablo101 View Post
          I understand that, I don't want two policies. But I do not speak to my husband, we are both joint owners
          Is the property going to stay jointly owned? Not necessarily a good idea, in the unfortunate circumstances.
          JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
          1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
          2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
          3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
          4. *- Contact info: click on my name (blue-highlight link).

          Comment


            #6
            Plus I do hope that you + he hold it as beneficial tenants in common.
            On the HMLR entries, is entry B1 [proprietors' names] followed by a 'form A' Restriction?
            If not, get it done AT ONCE. Also ask HMLR:
            a. to show your new address; and
            b. to add a Restriction in form LL (ensuring that anything purportedly executed by you is really by you).
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment


              #7
              Originally posted by jeffrey View Post
              Is the property going to stay jointly owned? Not necessarily a good idea, in the unfortunate circumstances.
              No, hopefully on the final court hearing next week I shall be made the sole property owner.

              @Jeffrey: I'm sorry I don't understand those abbreviations? I am not technically or legally like-minded

              Comment


                #8
                HMLR= HM Land Registry.
                There are dozens of varieties of permissible Restrictions. Ask your solicitor to verify the points in post #6.
                Even after the Court makes an Order next week, there will still need to be a Transfer (TR1) etc.; and what if something happens in the interim OR if the Order is delayed/refused? Get solicitor onto it RIGHT NOW.
                JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                4. *- Contact info: click on my name (blue-highlight link).

                Comment


                  #9
                  Ringing them right now! Not happy at all with the idea of not being insured right now!

                  Comment


                    #10
                    Originally posted by Pablo101 View Post
                    Ringing them right now! Not happy at all with the idea of not being insured right now!
                    But the insurance is valid, isn't it? It covers the property, not a person, so who's the policyholder for the time being is rather less significant than all the other points to which I've drawn your attention.
                    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                    4. *- Contact info: click on my name (blue-highlight link).

                    Comment


                      #11
                      Originally posted by jeffrey View Post
                      But the insurance is valid, isn't it? It covers the property, not a person, so who's the policyholder for the time being is rather less significant than all the other points to which I've drawn your attention.
                      Surely the Reverse, if the wife is a proprietor she needs to ask the insurer to include her insurable interest so that she s has the benefit of cover against public liability risks, which are potentially more onerous to her than any other. In the event of a personal injury claim proceedings could be brought against her....

                      Comment


                        #12
                        That's not "the reverse". As long as W's interest is noted/notified, it's not essential that the policy be in joint names. Also, personal injury claim proceedings would be against both joint owners (H and W).
                        JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                        1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                        2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                        3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                        4. *- Contact info: click on my name (blue-highlight link).

                        Comment


                          #13
                          You say that you should be made the sole owner of the property. In the interim why dont you approach another insurance company for a quote. I would be inclined to have a totally different policy in place when it becomes yours, so its in your own name. And once it is in your name the policy taken out by your husband "Is History" And on the day it becomes yours I would change the locks etc.

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