Our condo’s insurance policies have been canceled and/or not renewed due to run down condition of our buildings and property. Are we legally obligated to carry insurance? Located east of I-95 in palm beach co,fl. Thank you
Typically, condo associations require their owners to carry homeowners insurance on their units. You should review the condo documents to see what they say regarding such a requirement. Also, if the condo owners have mortgages, lenders typically require them to carry homeowners insurance on their units.
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The attorneys at The Beliveau Law Group provides legal services for estate planning (wills and trusts), Medicaid (planning and applications), probate (estate and trust administration), business law (formation and operation), real estate (residential and commercial), taxation (federal and state), and civil litigation (in connection with these practice areas). The law firm has offices and attorneys in Naples, Florida, Waltham, Massachusetts, and Salem, New Hampshire.