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Updated about 7 years ago on . Most recent reply

User Stats

18
Posts
7
Votes
Stephanie Windemuth
  • Real Estate Investor
  • Redmond, WA
7
Votes |
18
Posts

transferring title...what about title insurance?

Stephanie Windemuth
  • Real Estate Investor
  • Redmond, WA
Posted

We own a few multifamily properties. Those that are 5+ doors we have titled in the name of our LLC. We have a duplex that we purchased under our name and we recently deeded it to the LLC (we were upfront with our bank and they told us that they don't care...it only becomes a problem if/when you decide to refi). My question, however, is how this affects the actual title insurance? From my research, it appears that doing this has essentially "eliminated" our title insurance on the property...and we are no longer covered.
Questions -

1. Obviously we want to have title insurance on the property, so what now?

2. How does one approach this with the title company without raising red-flags?

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