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Updated almost 3 years ago,
Transfer multifamily to quit claim deed
I have a couple of properties purchased through conventional loan. There are over 30 properties managed by a property manager. Similar process as an apartment complex. All the properties in that area have an commercial insurance policy. When I went through a residential mortgage broker I had to put down 20 percent. In addition, due to Fannie mae guide lines, I had to get residential home owners insurance. If I were to do a quit claim deed, could I transfer those properties into an llc and remove the residential home owners insurance and maybe get like landlord insurance or umbrella insurance.