North Dakota § 26.1-29-29 Insurance of mortgaged property - Act of mortgagor may avoid insurance

North Dakota Statutes

§ 26.1-29-29 — Insurance of mortgaged property - Act of mortgagor may avoid insurance

North Dakota § 26.1-29-29

Title 26.1Insurance

Ch. 26.1-29Insurance Contracts

This text of North Dakota § 26.1-29-29 (Insurance of mortgaged property - Act of mortgagor may avoid insurance) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 26.1-29-29 (2026).

Text

When a mortgagor of property effects insurance in the mortgagor's own name providing that
the loss is payable to the mortgagee, or when the mortgagor assigns an insurance policy to the
mortgagee, the insurance is considered to be upon the interest of the mortgagor. The mortgagor
does not cease to be a party to the original contract, and any act of the mortgagor which
otherwise would avoid the insurance will have the same effect although the property is in the
hands of the mortgagee.

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When a mortgagor of property effects insurance in the mortgagor's own name providing that
the loss is payable to the mortgagee, or when the mortgagor assigns an insurance policy to the
mortgagee, the insurance is considered to be upon the interest of the mortgagor. The mortgagor
does not cease to be a party to the original contract, and any act of the mortgagor which
otherwise would avoid the insurance will have the same effect although the property is in the
hands of the mortgagee.