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Updated over 4 years ago,
Transferring Property to Non-Wholly Owned LLC - Title Insurance
I am under contract for a cash purchase rental, will refinance after close and then quit claiming to a an LLC I only own 50% of. Because it is not wholly owned, I would have to buy title insurance for the LLC again I am told. I have asked the title company if I can have the other principals on the title insurance when I initially purchase, but I am guessing the answer will be no. The only way around this I would think is for the other principals to be on the purchase agreement, but I don't want to involve them in the financing.
Any ideas on how to only buy the title insurance once and have it not be invalidated in the LLC?