Did you know the warranty can be transferred to successive homeowners? There is no doubt you have fielded this question before from homeowners, builders and agents. Many of us in 2-10 Home Buyers Warranty (2-10 HBW) Warranty Administration (WA) often offer the quick answer of yes, but you can support your answer by directing the interested party to Section I.A. of the warranty booklet. It clearly states the terms surrounding the transfer of coverage. While it is not required for subsequent owners to sign and submit the Successive Homeowner Transfer and Acceptance form before submitting a complaint or claim, whenever we can get a homeowner’s signature stating they accept the terms of the warranty, it adds an additional level of protection for the Builder and the Warranty Insurer.
Please keep in mind that only enrollments whose applicable warranty booklet contain the Successive Homeowner Transfer and Acceptance form are required to complete it in order to register the warranty in the new owner’s name. If the booklet does not contain the form (only the HUD-1 Settlement Statement or Settlement Disclosure Statement), is required to change the owner information.
