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Updated almost 7 years ago,
transferring title...what about title insurance?
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?