- This topic has 1 reply, 2 voices, and was last updated 10 years, 11 months ago by .
-
Topic
-
We’re having some debate about excluding detached structures from flood insurance. On page 47 of the manual it reads “flood insurance shall not be required, in the case of any residential property, for any structure that is a part of such property but is detached from the primary residential structure of such property and does not serve as a residence.” Does this mean if we have a loan that has a house that is the borrower’s residence (or a tenant house) and a barn that we can allow the borrow to choose whether or not to insure on the barn, but if we have a loan to a customer that is a farm loan that has a barn but no house that borrower would have to carry insurance on the barn?
Viewing 1 replies (of 1 total)
Viewing 1 replies (of 1 total)
- You must be logged in to reply to this topic.