Sharplin v. Casualty Reciprocal Exchange

VICTORY, Judge.

Arthur Sharplin, mortgagee and loss payee, filed suit to recover for alleged insured losses to a metal warehouse under the vandalism provision in a commercial property policy issued by Casualty Reciprocal Exchange (CRE). Finding coverage under the policy, the trial court awarded Sharplin recovery, together with penalties and attorney’s fees. We reverse in part, and remand with instructions.

FACTS

On December 30, 1980, Sharplin sold a shell metal warehouse to Robert and Mildred Johnson by credit deed, creating a mortgage on the property in favor of Sharplin. The Johnsons finished…