What Does This Mean to Insurance Coverage?
Foreclosure is miserable. The awful effects of foreclosure proceedings on many of the human beings involved in them are detailed in the anecdotes reported by Damien Cave, "In South Florida, Eviction Spares Few," p. A13, col. 1 (New York Times Nat'l Ed., Wed., June 4, 2008)., and as a link directly to that article through the web log host, TypePad, is just not avalable at the time of this post, the author provides this link to the website, available online at www.nytimes.com. There is this nugget of anecdotal evidence included among the things expected: "These days, however, most houses are empty when the police arrive."
Depending on the types of Insurance Policies that may be at issue, this can give rise to many potential Insurance Coverage Questions, among them:
How long has the residential property been empty?
What precautions were taken, if any, to safeguard the property?
Was the property in question purchased empty, and if so has it remained empty, and if not, when did it become "empty"?
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