Arkansas, Mississippi, Louisiana, Missouri | Yes, the trust need's to secure a policy for ownership of the land. Regarding the undivided interests, if all of the other owners are included as "Named Insureds" there should not be a problem on these locations. I would however include an endorsement restricting the coverage to the locations listed on the policy so you are not picking up unanticipated exposures by any additional land owned by the trustees that the trust has no interest in. Shouldn't be difficult at all to structure correctly..... |
Liability of a trust owning land?
