google bot detected Premises Sold Exclusion | Insurance Glossary |

Premises Sold Exclusion

Definition of "Premises sold exclusion"

Betty Holly
  ERA Pacesetters Realty

In a commercial general liability (comprehensive general liability) policy, exclusion of coverage for sold premises. The objective of this exclusion is to eliminate coverage for property damage and/or bodily injury due to inherently dangerous risks associated with property sold by the insured. For example, the insured may sell property that has defects that should have been repaired prior to the sale. These defects could then result in damage to the property, as well as bodily injury to a person or persons who came in contact with that property.

Related Real Estate Glossary terms

Related Real Estate FAQ