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PS I should add that an indemnity is not the same as a guarantee. What the lender is asking for is that if they go you for the asset that the beneficiaries have previously agreed to that if you default. Ta Rolf

Hi Setunge A common problem, but shows the ignorance of the lender on some very basic legal and structuring issues. With the help of Dale's own left hand woman (Sharon) we have even managed to send mortgage insurers running for cover and changing "policy". The logic is so simple that...