What is the term used to describe property that has been sold by the insured?

The term "Alienated Premises" is used to describe property that has been sold by the insured. This term is particularly relevant in insurance contexts where the status of ownership may influence coverage or liability. When property is alienated, it indicates that the original owner (the insured) has relinquished control or ownership. This can have implications for how an insurance policy responds to claims, as coverage may be contingent upon the ownership status of the property at the time of loss.

In insurance policies, the concept of alienated premises helps adjusters and insurers understand whether the policyholder still has insurable interest in the property. Without this interest, the policy may not provide coverage for losses that occur after the property has been sold.

The other terms presented may relate to issues of property but do not accurately capture the specific notion of property that has been sold by the insured. For example, "Transferred Assets" suggests a broader concept of transferring ownership but does not specifically denote property sold by the insured in the context of insurance. Similarly, "Liable Property" and "Disowned Property" do not align with the terminology commonly used in property and casualty insurance to describe sold property. Thus, "Alienated Premises" is the most precise choice for this concept