I am in a similar position and did some research then contacted my RE attorney.What I heard was that you can perform a quit claim deed and transfer the property and insurance into an LLC.The challenge is with the lender, typically lenders to a conventional loan will not allow transfer to LLC but you may want to call and ask.If they approve get it in writing so you have a legal document.If you try to perform this without informing the lender, they may call the loan.This will typically happen when they are confirming that you have insurance on the property.If they see the insurer as XYZ LLC, red flags will go off.

I did a lil research and a real agent told me that an investment group owns it and there is a quit claim on the house.

If anyone has an ownership claim on the property, the lender will want them to sign the mortgage agreement.I can't imagine too many investors being willing to sign a mortgage agreement without being on the title to the property.

They are talking about lien position... as in if the borrowers stop making payments, who gets put in first place for claims.

You will need to look at your landlord tenabtvla s as to how many days you have to make a claim.

The higher your limits on the underlying policies the lower cost your Umbrella will be.The secret sauce of having high liability limits is that it forces the insurance company to fight harder to defend you.If you have lower limit policies and get a large lawsuit against you - if the claim looks legitimate it becomes a business case for the carrier.

For properties that we manage, we screen any applicant that wants to apply but they must sign off on our rental criteria so that they can't claim that they didn't know what was expected to qualify before they put their application fee at risk.Hope this helps,Phil

If it goes to court, they could claim that they still have some equity in the place and the judge might see it that way.

also, NOTE: at the time of contract sale they also sign a quit claim to me and sales disclosure back to me should they ever default along the way.Now, I have had the bank get my home appraised, and then loan me 80% knowing that I have sold it on contract.  

We're basically going to quit claim the home into my name and I'll make the mortgage payments directly so I know they're being paid.