All Topics / The Treasure Chest / Insurance Coverage

Viewing 2 posts - 1 through 2 (of 2 total)
  • Profile photo of StephenArrowsmithStephenArrowsmith
    Join Date: 2002
    Post Count: 3

    Hi all again .

    With Wrapped houses the insurance coverage of the house is the Wrappees cost (ie if house burns down etc) but if for some reason the house itself causes a death ( from a gas leak or something ) and a court decides that a WRAP contract is partialy a rental contract and the “Tenant” can therefore sue for damages from the owner of the property .
    As most of us know we place WRAPs into Unit Trusts and the Trust is then managed by a Trusteee who is a company , does this Trustee company need to be a $2 only company or can this be a active trading company?
    Hs anyone obtained insurance coverage for anything like this above or am I just being a worry wart ?

    Profile photo of Steve McKnightSteve McKnight
    Join Date: 2001
    Post Count: 1,763

    Hi Stephen,

    Great talking to you before…

    In Victoria, because there is a sale contract there is no tenant-landlord issue. I include wording that spells this out in the contract just in case there is any doubt.

    Also see my comments about insurance – author FW.


    Steve McKnight

    Steve McKnight | Pty Ltd | CEO

    Success comes from doing things differently

Viewing 2 posts - 1 through 2 (of 2 total)

The topic ‘Insurance Coverage’ is closed to new replies.