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#1109502 - 01/12/09 09:43 PM Flood ins. on portion of leased land w/mobile home
Frank Offline
100 Club
Joined: Jun 2007
Posts: 133
Central Arkansas
A guy wants to put up 40AL he owns to purchase something else-a hunting lease I think.

The 40 AL is farmland except for a tiny portion he leased out to a guy. That guy then put a mobile home on it.

That portion of land is in a flood zone. Is flood required? Right now my mind is saying (it's very tired)....How are we going to require a guy who isn't our customer to get flood on his mobile home?

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Lending Compliance
#1109528 - 01/12/09 09:51 PM Re: Flood ins. on portion of leased land w/mobile home Frank
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,361
Galveston, TX
If you are not taking the mobile home as collateral, you have nothing that would require insurance as you only have bare land as collateral.
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