Preferred Property Program

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OUR NORMAL OFFICE HOURS ARE MONDAY THROUGH FRIDAY FROM 9:00 AM TO 4:30 PM E.S.T.

09 February 2015 By In Blog style

A Ohio subscriber recently asked the following question:

When a condo owner makes improvements to the condo, for example new kitchen cabinets, and later sells the condo, are the cabinets still betterments and improvements for the new owner who purchases the condo?

ANSWER: The condo policy does not define "improvements and betterments." The policy provides coverage for betterments and alterations. While the new owner did not make the alterations, they are still alterations all the same. Also, the state statutes determine whether the unit owner or the condo association is responsible for appliances and cabinets. In our opinion the alterations still count as alterations under the new owner and should be insured as such.

05 June 2014 By In Blog style

On April 15, 2014, the Eastern District of Pennsylvania issued a decision in Barker v. Hostetter et al. that reinforced the need for real estate developers to disclose all relevant property conditions to potential buyers in order to prevent later potential liability for fraud and/or withholding material information.

22 April 2014 By In Blog style

SAN JOSE -- With a fancy name like "California Hawaiian Mobile Estates," the trailer park on Snell Avenue should have been top-notch.

But residents say that for years it was anything but -- marred by sewage backups, potholes, electrical blackouts and a swimming pool filled with geese feces. Fed up with having their complaints ignored, a small group sued five years ago, risking the possibility that if they lost, they'd be on the hook for the park owner's substantial legal fees.

15 April 2014 By In Blog style

The U.S. Court of Appeals for the Sixth Circuit has ruled that an insurance carrier that provided an insurance professionals' errors and omissions liability insurance policy to an agency was not obligated to defend the agency in a suit brought by a competitor agency, where the suit only asserted claims for intentional wrongdoing.

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