The grantee (buyer) may be responsible for title issues during their ownership, not having title insurance means you'll have to defend title, if a matter arises prior to your ownership, you will need to subrogate against other insurers, a David and Goliath position, getting past coverage to save yourself from any loss, the buck can stop with you if you warrant title.The heirs should be using a Special Warranty Deed excepting out their responsibilities to title allowing warranty from past ownership. :)    

Larger deals need more elaborate structures generally and private placements and more comprehensive operating agreements are common here.

Communicate intelligently that you have a realistic comprehension of the exit strategies and what is required to get there.

EDIT: D'Oh, I need to improve my comprehension skills.

The T is based off of the assessors website and the I is based off of a couple properties I currently own that are similar in the coverage that is needed.

This is called debt coverage ratio.

The lender will when they are calculating your debt coverage ratio.You have to run the numbers on the various scenarios.

(I may have posted the same question in the wrong place previously).

I've got a single family home in Sugar Land, Fort Bend County (77479). It's been difficult to find a dwelling/fire policy. The ones that ...

I am concerned that my name will be entered to the database and have difficulty to get appropriate insurance coverage in the future if we file a claim.

You really don't need a mortgage term policy designed to be reduced with a mortgage as you can obtain more coverage with a term policy that reduces on a uniformed reduction basis, a uniform decreasing term policy that will always cover any lien amount.Another matter, if it's a long term hold, an option to purchase and or first right of refusal can be used in the operating agreement, your equity may be applied toward the purchase as it's earned and acquired through the partnership.But, again, life coverage is rather unusual on small RE projects, but, OTH, I had a partner who was pretty healthy, my age who had diabetic not thought to be a big deal. 3 months later he was in the hospital having a foot amputated and 2 months later he had a stroke at my desk!