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Updated almost 6 years ago, 01/04/2019
LLC endorsement on an ALTA Homeowners policy?
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