Morse v. Morse
In Morse v. Morse, 60 Ark. App. 215, 961 S.W.2d 777 (Ark. Ct. App. 1998), the Arkansas Court of Appeals held that the former wife did not have an insurable interest in the former marital home at the time it was destroyed by fire and thus, was not entitled to any of the insurance proceeds, where she had previously quitclaimed her interest to her former husband as part of their property settlement.
The court further found that the wife was not entitled to recover the $ 20,000 the husband still owed her under the property settlement from the insurance proceeds because the time stated in the settlement for repayment of the debt had not yet expired.