Insurance

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    #16
    Is this a matter for the new freeholder to take on? The RTM company? Or the Leaseholders?

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      #17
      Nothing to do with new freeholder, he has simply bought a property and insured it, exactly as he should.
      Likewise the ground rent is irrelevant, you have paid for the year (presumably)​
      IF (and it's a big IF) the insurance has been cancelled then whoever was invoiced for the premium (RTM or Lessees) would reclaim the premium from whoever was paid (agent or freeholder).
      As stated above, send letter before action and give 7 days before issuing MCOL.
      Personally I would request a pro rata refund or the full £1200 if the year has not long started and let them argue the difference

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        #18

        I have found out that it was the previous managing agent that cancelled the insurance, following the sale of the freehold, our RTM and new management company took over prior to the insurance being cancelled.

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          #19
          The previous freeholder is only entitled to the ground rent income whilst he owns the property, therefore any ground rent paid beyond that date belongs to the new freeholder.

          Assuming that the lease states that the freeholder is responsible for insuring the building, the refund on the policy should be paid by the old freeholder to the new freeholder, so any claim must be made by the new freeholder. The old policy must be cancelled because the previous freeholder no longer has an insurable interest in the building, Any agent involved is simply acting on behalf of the freeholder.

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            #20
            Originally posted by jazzythumper View Post
            I have found out that it was the previous managing agent that cancelled the insurance, following the sale of the freehold, our RTM and new management company took over prior to the insurance being cancelled.
            You can't generally cancel someone else's insurance, so as stated it is just like any other goods or service that you have paid for but not received - you ask for a refund from the people you paid

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              #21
              eagle2,

              Ok, but where does that leave myself as a leaseholder as the new freeholder says he is unable to get hold of this refund?
              We have effectively now paid twice to insure the building at the moment?

              As I am one of the directors of the RTM company which took over the managing the building just before the freehold was transferred, are we not in a position to claim the money?

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                #22
                Originally posted by Section20z View Post

                You can't generally cancel someone else's insurance, so as stated it is just like any other goods or service that you have paid for but not received - you ask for a refund from the people you paid
                On this basis, as the insurance was paid for by the leaseholders, to the previous managing agent, and they cancelled the policy as a leaseholder should we not be asking them for the refund?

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                  #23
                  Originally posted by jazzythumper View Post
                  I have found out that it was the previous managing agent that cancelled the insurance, following the sale of the freehold, our RTM and new management company took over prior to the insurance being cancelled.
                  The previous managing agent or freeholder should claim the refund from the insurance company and hand over the money to the RTM .

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                    #24
                    Originally posted by Gordon999 View Post

                    The previous managing agent or freeholder should claim the refund from the insurance company and hand over the money to the RTM .
                    Ok, perfect they haven't done this and have had 5 months to do so, they will be sent a letter asking for this.

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                      #25
                      There is no harm in the RTM Company asking the agent to account for the refund but if you need to make a formal claim, it is important to understand the parties to the contract (the lease). The new freeholder would need to make any claim against the old freeholder, the leaseholders have a claim against the new freeholder, subject to anything to the contrary within the lease,

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                        #26
                        I’ve managed to get the refund from the previous insurers, which is good, over £1,000 that we wouldn’t have had otherwise in our funds.

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