Shared ownership properties, such as flats in tenements in Scotland and the UK (known as condominium ownership in the US, I think) require buildings insurance, as a fire or other damage to the fabric will affect other parts of the property.<p>This is codified in law by parliament as the Tenements (Scotland) Act 2004, Section 18, Obligation of owner to insure - <a href="http:&#x2F;&#x2F;www.legislation.gov.uk&#x2F;asp&#x2F;2004&#x2F;11&#x2F;section&#x2F;18" rel="nofollow">http:&#x2F;&#x2F;www.legislation.gov.uk&#x2F;asp&#x2F;2004&#x2F;11&#x2F;section&#x2F;18</a>