Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 9 years ago,
Does insurance need to be in the LLC's name?
I have a house that I previously lived in but I've been renting it for the past 8+ years. When I converted the house to a rental property, I setup an LLC (I'm the sole owner) and transferred the deed to the LLC. I don't remember if I did a Quit Claim or another means of transfer. I thought I have been covered all this time but after explaining this to a friend, she tells me I could still be personally liable because the insurance covering the house is still in my name, not the LLC. Did I leave a hole here?