Let’s say that you buy a home in cash and have 100% paid off. Could you still lose it somehow?

  • buzz@lemmy.world
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    11 months ago

    If you do some crime and they will take all your property including house.

    U could drive without insurance and hit someone on the road and they can sue u and take ur house.

    • buzz@lemmy.world
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      11 months ago

      Well look, you can claim neck pain and inability to work anymore. That means the accident took away your income for life which could be recouped for you with from offenders property.

      I’m simplifying - but this absolutely happens. I was on jury duty where the case was that someone got killed in the accident and the other party was injured and coming after the property of the guy that got killed.

    • LemmyKnowsBest@lemmy.world
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      11 months ago

      ooh I didn’t know that! someone without insurance rear-ended my vehicle but I chose not to pursue it because then my own insurance rates would’ve gone up. But heck I didn’t know I could have gotten a house out of it 😄 okay but judging by the state of that guy, I doubt he had a very glamorous living situation.

      • squiblet@kbin.social
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        11 months ago

        If you’re injured, or have a lawyer and doctor say you were, yeah… you don’t literally get their house but they might have to sell it to pay you. More often, their insurance company would pay.

      • rekabis@programming.dev
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        11 months ago

        someone without insurance rear-ended my vehicle but I chose not to pursue it because then my own insurance rates would’ve gone up.

        Somehow, this sounds deeply wrong. Your insurance should cover you regardless of what happens. If it’s an act of god, the insurance company should just swallow those costs. If it’s caused by a third party who is not their customer, they should go after the company that insured the other party, or the other party directly if uninsured.

        No matter what the circumstances, if you are not at fault you should never see an increase in your rates, no matter how catastrophic the damage or the costs to make it right.