Does a Land Contract Buyer or Seller Typically Pay for Property Insurance During the Contract Term?

Under a Land Contract, the responsibility for the property insurance payment and the securing of a policy is a negotiated item.

If the contract is already in place, read the Land Contract document itself; insurance responsibility is typically an item covered within the contract.

If the contract is in discussion, such a topic should be decided upon during negotiations.

For an easy-to-use Land Contract package that is fair and equitable to both buyer and seller, see Standard Legal’s Land Contract legal forms software page here.