What are the primary responsibilities of a property owner?

A property owner's primary responsibilities encompass a range of financial and management tasks essential for the effective operation and upkeep of their property. Making mortgage payments is a fundamental obligation that ensures the property remains in good standing with the lender and helps in building equity over time. Paying property taxes is necessary for maintaining ownership rights, as failing to pay taxes can result in tax liens or foreclosure. Additionally, maintaining adequate insurance policies is crucial for protecting the property against potential damages, liabilities, and unexpected incidents.

Each responsibility serves a specific purpose, contributing to the overall health of the property investment and ensuring compliance with legal and financial obligations. When a property owner fulfills all these responsibilities, they safeguard their investment, comply with local laws, and enhance the property's value and appeal, thereby fulfilling their role effectively. Hence, the comprehensive nature of these duties is encapsulated in the option that includes all these elements.