I have received notice from bank regarding renewal of fire insurance for condo unit which i bought last year.
As far I know, i know the JMB of the condo buys the fire insurance and I will just ask them for the copy of the certificate and I forward it to the bank. But this time, the bank mentioned 'please forward to us a copy of the renewed insurance policy/certificate of insurance with 'BANK NAME' being endorsed as the mortgagee or having financial interest on the property/assets 7 days before the expiry of the said insurance'.
What does it actually mean? If i forward the letter from the bank to my JMB, will there be extra charges ?
Sorry, first time property owner here.. im noob.
Fire Insurance for Condo unit, with bank endorsed as mortgagee
Jun 13 2020, 01:54 PM, updated 6y ago
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