How to transfer a Conventional loan to an LLC

[Andy Borses]

My new partner and I bought a duplex in St. Louis through conventional financing and we are closing in less than two weeks however we haven't formed an LLC - We both have our own LLC's but we just formed this partnership and haven't established one yet between us. The loan is in both of our names...so the question is how do take out insurance on the property...some insurance companies are telling us that we have to take out insurance within an LLC...is that true, and if it is then how do we do that since we haven't closed and can't quit claim the property into the LLC?...or am I not asking the right question?