"Dover Beach" <moon.blanched@[EMAIL PROTECTED]
> wrote in message
news:Xns9A7CA77B65D46moonblanchedgmailcom@[EMAIL PROTECTED]
> Me: I'd like to get a quote for some insurance for a house we own in
> California that we rent out. We'll need earthquake insurance too.
>
> Rep: Are you the owner?
>
> Me: I'm the trustee. The house is held by a trust.
>
> Rep: Is that like a living will?
>
> Me: Uh, no, not at all, actually.
>
> Rep: Please hold.
>
> Rep: Who owns the house?
>
> Me: The trust owns the house.
>
> Rep: What's the name of the trust?
>
> Me: The Elsbeth Beach Trust.
>
> Rep: Who is that?
>
> Me: My mom.
>
> Rep: Well, she's the owner, she would have to purchase the insurance.
>
> Me: No, the name is irrelevant. She's the beneficiary. I'm the
> trustee.
>
> Rep: And she lives in the house.
>
> Me: No, she lives near me in Colorado. The house is in California. We
> rent it out.
>
> Rep: Well, it's her house.
>
> Me: No. The house is not owned by a human being. It's owned by a
> legal entity called a trust.
>
> Rep: Well, who takes care of it?
>
> Me: The tenant calls my sister when she has problems.
>
> Rep: Your sister is in California?
>
> Me: Yes.
>
> Rep: So is she the owner?
>
> Me: Is there someone else I can talk to? Can I talk to someone in
> underwriting?
>
> Rep: Underwriting is going to want to know who owns the house.
>
> Me: THE TRUST OWNS THE HOUSE.
>
> Rep: <dripping with suspicion> Explain to me how there can be a trust
> with a trustee AND a beneficiary.
>
> Me: Sweetheart, my job is not to explain legal trusts to you. Can I
> talk to someone else?
>
> Rep: Is the house on a yearly lease?
>
> Me: No. It's month-to-month.
>
> Rep: Well, we wouldn't cover it then. It has to be on a yearly lease.
>
> Me: All righty then. Bye.
Oh dear Lord...
But seriously, why would it matter to them whether the house is rented
month-to-month or yearly? A destructive tenant is highly unlikely to be
deterred by a yearly lease.
Lisa Ann
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