What happens if your house is destroyed by fire under a land contract? (insurance, buying)

[jolenemichigan]

I am buying a home under land contract. I am responsible for insurance and taxes. If my home were to burn down would I be able to rebuild how I wanted? Would the Owner of the land contract have any say in this?

[SmartMoney]

Unfortunately, that is a contract specific question an needsxto be answered by the attorney that reviewed th contract forcyou. Who is named as the mortgagee in your policy? Is the seller also maintaining a policy for the lender? What does your contract state?

[willow wind]

Rebuilding is also very dependent upon local zoning laws. You would have to see whether you could rebuild your home in the exact same footprint that was or whether you can expand or change that footprint. These are questions you should be asking of your municipal building and zoning departments.