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Updated 12 months ago,

User Stats

56
Posts
3
Votes
John Boby
  • Rental Property Investor
  • LOS ANGELES, CA
3
Votes |
56
Posts

Land Trust - who should be named on the insurance policy?

John Boby
  • Rental Property Investor
  • LOS ANGELES, CA
Posted

On an investment property with no loan, that's rented out, who is the owner of the insurance policy?

The structure of ownership is as follows:

Title to the home taken in the name of the land trust. So the title says something like '123 main st trust, John Smith trustee"

The beneficiary is a LLC.

The holding entity that owns the LLC is a Family Limited Partnership.

So there are three entities that flow down in ownership top to bottom.

When taking an insurance policy out - who is named on the policy documents ?

How is the policy written ?

Thanks