C
Clee
Guest
- Jurisdiction
- Iowa
I sold a house on land contract and the buyer bought homeowners insurance. Should I buy a policy as well?
army judge
Super Moderator
A land contract isn't a sale, it's closer to a lease, because the buyer is actually renting your home.
You have a very deep interest in your home, because you own it.
You might want to research what a land contract is, or even visit an attorney to obtain a better understanding.
If you're smart, you'd always protect your property.
adjusterjack
Super Moderator
Yes.
If anything happens at the house, he gets protected from a lawsuit, not you.
If anything happens to the house, he gets paid, not you.
