PetaJ (Kentucky)
Posts: 2
Posts: 2
Posted:
We are Opera House square in Kentucky and would like information about any issues for requiring proof of individual homeowners insurance.
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Requiring homeowners insurance
Started by PetaJ • 5 replies • 2177 views
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hoatalk (California)
Posts: 603
Posts: 603
Posted:
Are you asking if it is OK for the HOA to ask individual homeowners to prove they have homeowners insurance? If so, why would the HOA want that proof?
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PetaJ (Kentucky)
Posts: 2
Posts: 2
Posted:
If someone were to not have homeowners insurance and there was a fire, others living next door may be living next to a disaster sight for quite a while. However, there seems to be the belief that one can purchase the insurance, show proof, and then cancel it the next day. We would like to know what other HOA's are doing.
HaroldS (Arizona)
Posts: 906
Posts: 906
Posted:
If this requirement to show insurance proof is not already in your CC&Rs, you will have to amend your CC&Rs by the required vote of your members. This is not a "rules & regulations" issue the board can choose to implement.
If a home burns and is not cleaned up, you should certainly have existing CC&Rs or even city or county zoning regulations to correct that situation. This is just another example of a board trying to meddle and regulate way beyond their responsibility. Harold
If a home burns and is not cleaned up, you should certainly have existing CC&Rs or even city or county zoning regulations to correct that situation. This is just another example of a board trying to meddle and regulate way beyond their responsibility. Harold
LisaS (Illinois)
Posts: 341
Posts: 341
Posted:
In a condo situation, I can understand the insurance requirement.
For single family, it is really not the business of the HOA. If it is a 'disaster' next door, then the clean up should be the issue, and likely regulated by your municipality because it would be unsafe.
Unless the homes in your area are not mortgaged, I would guess most people would have insurance. Banks don't give money to people to buy homes that might burn down and never rise again. They require protection in their investment.
For single family, it is really not the business of the HOA. If it is a 'disaster' next door, then the clean up should be the issue, and likely regulated by your municipality because it would be unsafe.
Unless the homes in your area are not mortgaged, I would guess most people would have insurance. Banks don't give money to people to buy homes that might burn down and never rise again. They require protection in their investment.
KathleenF (Illinois)
Posts: 19
Posts: 19
Posted:
If the question is "Does the Board have authority to pass a Rule requiring unit owners to maintain unit insurance and file proof thereof?", then the answer is:
"That depends on what the governing state law, the lease or DCR, and the Bylaws have to say about it."
In IL, condominium boards have express statutory authority to do this. IMHO, a court would almost certainly find that a cooperative board had the same authority (pursuant to broad grants of power under the governing business corporation acts, the Bylaws, and the Shareholder Lease-- and the clear public policy evidenced by the condo law).
As Lisa S. points out, detached single family houses are a very different matter; unless the DCR or Bylaws expressly give the board this power, this is a tough call. (I don't know enough about that to have an opinion.)
"That depends on what the governing state law, the lease or DCR, and the Bylaws have to say about it."
In IL, condominium boards have express statutory authority to do this. IMHO, a court would almost certainly find that a cooperative board had the same authority (pursuant to broad grants of power under the governing business corporation acts, the Bylaws, and the Shareholder Lease-- and the clear public policy evidenced by the condo law).
As Lisa S. points out, detached single family houses are a very different matter; unless the DCR or Bylaws expressly give the board this power, this is a tough call. (I don't know enough about that to have an opinion.)
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