Rosenstock v. Mississippi Home Insurance

Citations

• 82 Miss. 674

Syllabus

<p>1. Fire Insurance. Ownership. Vendor cund, vendee.</p> <p>A vendor who admits his vendee into possession of real estate and receives from him a large payment on the purchase money, is not the sole and unconditional owner within the terms of a fire insurance policy stipulating that it shall be void if the insured is not such owner, though he retains the legal title under an agreement to convey it on the full payment of the purchase money.</p> <p>3. Same. Time of ownership. Issuance of policy.</p> <p>The condition of a policy of fire insurance that the same shall be void if the insured is not the sole and unconditional owner of the property relates to ownership at the issuance of the policy.</p> <p>3. Same. Estate as beneficiary. Issuance without application.</p> <p>Where a fire insurance policy stipulates that the same shall be void if the insured is not the sole and unconditional owner of the property, and at the issuance of the policy the vendee of the decedent whose estate is the beneficiary had been admitted into possession and made a large payment on the purchase money, the policy is void, although no application had been made for the same and the decedent had taken out policies on the property for other years in his lifetime.</p>