What Is A Bad Faith Property Claim?
It is committed when someone acts with evil intentions. That’s why this property claim does not mean the person intends to steal another person’s land. Instead, it means they are consciously neglecting their duties to their landlord or tenant and not fulfilling their obligations.
Concerning insurance, it refers to an insurance company’s claim when the policyholder is negligent. The claim may be made by the insurer to threaten or bully the policyholder, as well as to recover more money than what is justly due. Working with professionals like BP Injury Law can be advantageous in accomplishing this.
Types of This Kind of Property Claims
As a policyholder, you should know that different types of bad-faith property claims are based on different scenarios. Some of them include:
This is the most common type of bad-faith claim. Landlords have the authority to recover their damages from tenants if they breach their contract. This means a landlord may reclaim damages from a tenant if the tenant does not pay for the rental amount or other obligations. In some cases, however, a landlord can claim property damages if the tenant does not fulfill obligations to maintain the building properly and safely.
Insurance companies can also file their policyholders for this property claim. This usually occurs when the policyholder does not pay their premium or a special payment, especially if the claim is filed after it has been denied. The company may also claim property damages from policyholders if the latter is aware that they have violated an agreement, but they still do so.
3. Lease Agreements
A lease is just like any other contract. It includes an offer, acceptance, and consideration between the landlord and tenant. It also includes mutual obligations between both parties. A tenant does not have to pay the rent if the tenant breaches an agreement, either in form or parties. A landlord may claim for rental or property damages when a tenant is negligent in fulfilling its end of the bargain.
4. Premises Liability
In this case, a landlord will not demand payment from their tenants but instead file for property damages. For instance, they can claim damages when the tenant breaks an agreement or if the tenant’s negligence results in a severe injury.
The claim may be made after the landlord or tenant ends their agreement. However, this does not mean that the claim should be accepted immediately by the landlord or tenant. This can only happen when both parties decide to settle for a specific amount of property damage and always get it notarized. It is best to avoid making such bad faith property claims before consulting with your legal counsel first.
This kind of property claim is bound to hurt the relationship between landlord and tenant and their reputations. In other words, both parties can suffer losses if they fail to respect their relationship and trust each other. Therefore, you should never accept this kind of property claim based on negligence without consulting with your legal counsel first. Contact BP Injury Law for professional advice.