Home Insurance / Trust Fund

bytenserve

Soon the Home & Contents Insurance are due for renewal. There is now a Trust Fund on the property does the Insurer need to be advised of the Fund?
How might this affect the insurance?

Appreciate any comments
Regards, Steve

rs65

Does the trust fund own the property and contents?

bytenserve

rs65 wrote: »

Does the trust fund own the property and contents?

Yes, the Trust Fund own both

rs65

Well it sounds like the trust fund should be the policyholder. ie The Trustees of .....

bytenserve

Thank You, very helpful. Apperiate your comments

System

rs65 wrote: »

Well it sounds like the trust fund should be the policyholder. ie The Trustees of .....

Not necesarilly. The usual formula where a property interest is wholly or partly owned by another party is that the insurer is instructed to "note the interest of ..."

A beneficiary or lessee can still have the obligation to insure the property, as policyholder, as long as the interest of the trust or freeholder is covered too.

rs65

Clifford_Pope wrote: »

Not necesarilly.

Agreed, but there is nothing in the OP to suggest any other interest.

Just_Some_Guy

The trust deed can say anything so the correct answer is to ask the lawyer who wrote it

System

rs65 wrote: »

Agreed, but there is nothing in the OP to suggest any other interest.

It says there are two interests - the occupier and the trust.