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Updated about 2 years ago on . Most recent reply

User Stats

92
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102
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Patrick Hancock
  • Investor
  • Orlando, FL
102
Votes |
92
Posts

Quit Claim Deed Effect on Homeowner's Insurance?

Patrick Hancock
  • Investor
  • Orlando, FL
Posted

Getting ready to Quit Claim Deed a recent acquisition into a LLC. I'm aware of the due on sale clause risk, however, what is the effect if any on my homeowner's insurance? The homeowner's insurance is currently in my name/property address. If the "ownership" is not changed to the LLC does that void my homeowner's insurance?

Thanks in advance,

Pat

  • Patrick Hancock
  • Most Popular Reply

    Account Closed
    • Specialist
    • Paradise Valley, AZ
    2,935
    Votes |
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    Account Closed
    • Specialist
    • Paradise Valley, AZ
    Replied
    Originally posted by @Patrick Hancock:

    Getting ready to Quit Claim Deed a recent acquisition into a LLC. I'm aware of the due on sale clause risk, however, what is the effect if any on my homeowner's insurance? The homeowner's insurance is currently in my name/property address. If the "ownership" is not changed to the LLC does that void my homeowner's insurance?

    Thanks in advance,

    Pat

    Doing a Quit Claim deed can invalidate your Title Insurance too. So check with your Title Company for further direction.

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