Title and insurance question..How many of you change title after closing??

[Joel Owens]

Currently I am in a certain situation.

I don't want to go into details as it is well documented in other posts.

What I want to know is most lenders when doing a loan want the title in your personal name. After closing most people change the title into an LLC or a Trust for asset protection and estate planning.

Technically this violates the DOS clause with the lender.When you go for yearly renewal on property insurance and you have moved title into an LLC does the lender ask any questions or want documents?? If so what do they want??

I know lenders can call the loan but if the loan is performing they usually don't care.

The reason I ask this is because of an insurance issue with a wrap I did.The attorney I talked to said to get insurance for my corporation and add the seller as a member to my corp with a non-controlling interest.Then simply tell the lender the corp is listed as the seller did it for asset protection and estate planning purposes.

The sellers insurance is coming up for renewal and the insurance company is giving us problems since she sold sold to me.