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Home Insurance / Trust Fund

bytenserve
bytenserve Posts: 36 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Insurance & life assurance
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

Comments

  • rs65
    rs65 Posts: 5,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Does the trust fund own the property and contents?
  • bytenserve
    bytenserve Posts: 36 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    rs65 wrote: »
    Does the trust fund own the property and contents?

    Yes, the Trust Fund own both
  • rs65
    rs65 Posts: 5,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Well it sounds like the trust fund should be the policyholder. ie The Trustees of .....
  • bytenserve
    bytenserve Posts: 36 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Thank You, very helpful. Apperiate your comments
  • System
    System Posts: 178,421 Community Admin
    10,000 Posts Photogenic Name Dropper
    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.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • rs65
    rs65 Posts: 5,682 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Clifford_Pope wrote: »
    Not necesarilly.
    Agreed, but there is nothing in the OP to suggest any other interest.
  • Just_Some_Guy
    Just_Some_Guy Posts: 232 Forumite
    The trust deed can say anything so the correct answer is to ask the lawyer who wrote it
  • System
    System Posts: 178,421 Community Admin
    10,000 Posts Photogenic Name Dropper
    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.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
This discussion has been closed.
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