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land contract/homeowners insurance...

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Junior Member
What is the name of your state? Ohio
I live in Ohio and run an in-home daycare. I am trying to buy a home on land contract (will definitely go through a lawyer, have title recorded, house inspected etc) but, I need to find out about the home owners insurance... My question is, if I would buy this home, put the homeowners insurance in MY name/policy, will this release the seller from any liability as far as my daycare is concerned? In other words, if (God forbid) any of my kids would get hurt, would the parent be able to sue the seller because technically the house would still be hers even though we are buying??? Any info you can give would be greatly appreciated!

Thanks in advance,


Senior Member
You would have a "vendee's interest", seller being "vendor". When I bought my first place under an LC, the agreement had me carrying sufficient homeowner's insurance and providing proof of coverage to vendor. You need to have both homeowner's insurance. AND additional coverage for the additional liability, sufficient to cover your and vendor's legal exposure, as it is you who are operating a business there. And you need to disclose your intent to the vendor prior to purchase and obtain any permits required..

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