We have a situation where a borrower is purchasing three properties that are connected by covered walkways. They are all different parcels/addresses however. Two of the three properties are in flood zones per the determinations and aerial overview.

Assuming NFIP policy: Do we require multiple policies due to different parcels or one policy because the buildings are connected? If one policy do we list all addresses or does one suffice?

Note: Prior owner's lender issued one policy (which only listed one of the three addresses)

They sound like separate buildings to be since you said they are on separate parcels.

Determine Single Building Eligibility
To qualify as a single-building structure, subject to the single-building limits of coverage, a building must be:

• Separated from other buildings by intervening clear space; or

• Separated into divisions by solid vertical load-bearing walls.

– These walls must divide the building from its lowest level to its highest ceiling and have no openings.

– If there is access through the division wall by a doorway or other opening, the structure must be insured as one building unless it meets all of the following criteria:

> It is a separately titled building contiguous to the ground;

> It has a separate legal description; and

> It is regarded as a separate property for other real estate purposes, meaning that it has most of its own utilities and may be deeded, conveyed, and taxed separately.

Thank you

Sorry Randy, one quick follow-up clarification:

I am still thinking we need two policies, however, what is meant by:
> It is a separately titled building contiguous to the ground;??

After further discussion with the LO, the building is actually one address, however, it spans two parcels (with separate legal descriptions and are taxed separately)

Might be a question for the NFIP - I am really not sure.