ladybird deed and house insurance

[happywanderer2]

My mom died last month and the house was on a ladybird deed to me w.a home equity loan. I needed to apply for a separate equity loan on the house that covered the loan my parents had--so far ok, and signed the papers yesterday. The question is--do I need to apply for homeowners insurance myself, now that house is in my name, or can I just keep the insurance my parents had and just put that in my name?

 

[golfgal]

My mom died last month and the house was on a ladybird deed to me w.a home equity loan. I needed to apply for a separate equity loan on the house that covered the loan my parents had--so far ok, and signed the papers yesterday. The question is--do I need to apply for homeowners insurance myself, now that house is in my name, or can I just keep the insurance my parents had and just put that in my name?

You need to get your own policy-they don't transfer insurance policies.

 

[clh2]

I agree that you will need to apply for the insurance. Don't forget - you should be able to request a refund on the other policy for the balance.

 

[mommasita]

You need to get your own policy-they don't transfer insurance policies.

Agree, and I am sorry for your loss