Force place insurance
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Statutes
A person who lends money or extends credit may place insurance on real or personal property in the event the borrower, mortgagor, or purchaser has failed to provide required insurance in accordance with the terms of the loan or credit document. NEB. REV. STAT. § 44-1526.
Cases
The Nebraska court has held that lessors were entitled to recover damages for unpaid insurance where the lease required lessees to insure the property, the lessees failed to fully insure the property and the lessors paid for coverage on lessees’ property. Middagh v. Stanal Sound Ltd., 382 N.W.2d 303 (Neb. 1986).
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Contributors
Sean Gillen, Esq.
The statutory information was edited and reviewed with the support of MultiState
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