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Updated almost 2 years ago,

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Victor Peter
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Family Limited Partnership Question regarding Insurance

Victor Peter
Posted

Hi, 

   I have a rental property that is under my family limited partnership but the insurance is under my personal name. Do I need to switch the insurance under the FLP name as well? Can I put an additional name under the policy for the FLP? If I do the transfer will the insurance become commercial? Also I have a mortgage on the property(6 years old) and switched to the FLP over a year ago. Thanks

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