Not sure what you mean by contract? Did you get your own mortgage and pay the required down payment and have lawyers do all the paper work to put the title in your name? If your name isn't on the title by itself, it would make sense your mom still carried insurance until the title was solely in your name. It sounds like you made a deal to purchase the farm from your mom but could theoretically back out of it and leave your mom on the hook or having to take you to court to get paid the money owing. I'm not saying you'd do that but that might be the reason the insurance company recommends your mom still carry insurance. With a conventional mortgage/purchase the seller is paid up front and the bank is listed as the lien holder on the title not the seller. Sometimes the seller will offer financing for the purchaser but I'm not sure how that works. Dave
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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