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5 HOA Terms Every Board Member Needs to Know

Mem Property Management

Always check with an attorney for your state’s specific laws when implementing Rules. to cover their personal belongings, their personal liability, to cover a possible deductible assessment, and for any physical property not protected by the community’s property policy.

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“Wildfires, Insurance & Mortgages: Will Your Home Survive the Financial Aftermath?”

Esquire Property Management Group

In the event of a total losswhen the property is destroyed beyond repairthe lender may utilize the insurance proceeds to pay off or substantially decrease the outstanding mortgage obligation. This ensures that the lender is fully compensated even if the physical property is lost.

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