When a customer puts up property that is under a Leasehold Deed of Trust and that property is in a flood zone, who is ultimately responsible for the Flood Insurance? The lease holder or the true property owner? It would make sense for it to be the leaseholder in this situation but I just want to confirm. Thanks

When it comes to insurance, the insured party has to hold an insurable interest in the property covered. In this case, since it's the buildings, not the land, that is insured, it would be the lessee.

Who are you lending too. The owner of the land or the owner of the building?

We have a transaction involving farm land. Come to find out there is a Mobile Home with a lifetime leasehold agreement to an elderly couple on a small plot. The mobile home is in a flood zone. They are not the same couple that own the farm land. The value of the mobile home is approx $13-15,000. Farmland-$150,000. When the elderly couple dies the mobile home will belong to the owners of the farm. Must we require flood insurance. Who is responsible for purchase of flood insurance?

They don't own the mobile homey yet, so I doubt they can pledge it for the loan. It all depends if you have security interest in the mobile home now - ask your legal counsel.