VA Property Preservation Requirements For Insurance

7. Risk for Loss or Damage. Under 38 CFR 36.4823, holders bear responsibility for any loss due to damage or destruction of the property or personal injury sustained in respect to such property from the date of acquisition by the holder to the date such risk is assumed by VA. Risk is assumed by VA on the day successful electronic acceptance of the “Transfer of Custody” event is indicated in the VALERI application. If the “Transfer of Custody” event is rejected, risk remains with the holder. Continue Reading

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