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Updated about 6 years ago on . Most recent reply

User Stats

7
Posts
1
Votes
Lella Bennett
  • Rental Property Investor
  • Scottsdale, AZ
1
Votes |
7
Posts

LLC endorsement on an ALTA Homeowners policy?

Lella Bennett
  • Rental Property Investor
  • Scottsdale, AZ
Posted

Hello,

My husband and I purchased 3 four-plex multifamily buildings in Mesa, AZ last year. All of the properties were purchased in both our names as Community Property with ROS. After completion of the sale, we transferred title to all three properties into an AZ Limited Liability Corp (LLC) using a General Warranty Deed. When we purchased the properties, we also purchased an ALTA Homeowners policy of title insurance.

Since my husband and I are the only members of the LLC, do we need to get an endorsement for the LLC on the title insurance policy or are we already covered by the policy as there has been no change in parties holding interest in the property?

Thank you!

-Lella

Most Popular Reply

User Stats

7
Posts
1
Votes
Lella Bennett
  • Rental Property Investor
  • Scottsdale, AZ
1
Votes |
7
Posts
Lella Bennett
  • Rental Property Investor
  • Scottsdale, AZ
Replied

Thanks @Doug McVinua , I have reached out to Empire West to get additional clarification. They've not been very helpful in this process so far, so we'll see if I can get a response. Really appreciate your input. I will post back an update on what I find out in case it may be helpful to others.

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