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Updated about 9 years ago,
Named insured is personal name but title under LLC
Hello -
I have an investment property that unfortunately had a fire. The property has a mortgage on it but I used a quit-claim-deed right after the purchase to transfer ownership to avoid any liability issues. I know this is technically not allowed by lenders but I did not have any problems.
I now have to submit a claim for the fire and I am concerned about how the insurance company will react - the title is under the LLC name but the insurance is under my personal name.
Will the company look at this and will it be a problem? I am 100% owner in the LLC.
Any help or guidance from experienced investors here would be very much appreciated. Thank you.