What are some of the core requirements of the agreement?

In the contract with investors, property owners agree to:

Keep all property-related payments current, including but not limited to mortgage, property tax, and insurance payments
Maintain property insurance. Property owners agree to maintain hazard insurance on their property equal to the property’s value. It must include fire and any additional hazards typical for the area.
Keep the property in good condition. Any severe issues needing repair should be handled before the agreement.
Keep investors notified of any significant changes to the property, such as:
- Selling or transferring the property
- Placing a lien on the property
- Filing for bankruptcy
- Fire or hazard damage
- Receiving a notice of condemnation

It is recommended that you read the agreement you make with investors very carefully and get legal advice, if necessary, so that you fully understand your commitments.

By levi|2021-04-01T10:52:08-04:00February 28, 2021|0 Comments

About the Author: levi

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What are some of the core requirements of the agreement?

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