Ask Question
20 January, 16:03

Kelly purchases a house from John. She borrows $75,000 from First City Bank that, along with her $25,000 down payment, equals the $100,000 purchase price of the home. Who has an insurable interest in this home?

+1
Answers (1)
  1. 20 January, 19:21
    0
    Kelly and First city bank

    Explanation:

    The insurable interest means the party has the right to insured his / her property. It involves the financial interest in the property without which the insurable interest can't be involved.

    In the given scenario, the Kelly purchase a house from John for $100,000. For which she borrows $75,000 from the city bank and $25,000 down payment. In this two-party have a financial interest in the property i. e Kelly and the first city bank
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Kelly purchases a house from John. She borrows $75,000 from First City Bank that, along with her $25,000 down payment, equals the $100,000 ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers