Or they do not want hassles from their insurance company.

Normally getting a deed from the original owner will suffice for a title company to write title insurance on it.

There are very few disallowed investments -- collectibles, coins, life insurance.

Note that some income might be best run through a different entity so that you can provide company benefits to employees (medical, dental, vision, auto, life insurance, pension).John Corey

Most of the time the selling lender will pick the title company if you want them to pay for title insurance, which technically is a violation of RESPA.

If the borrower took out the 2nd knowing that it was not a 2nd that is different than someone forgot to record.There could be liability for the title insurance company if the 1st was not recorded and yet a policy was issued indicating it was in 1st.This one could be fun or a waste of time.John Corey

I would strongly recommend the insurance for a touchy, tempermantal purchase like this because it seems to have paid for itself for me.

In some places title companies will refuse to issue title insurance if a quit claim is used.

That will not be prosecuted as a crime and your insurance will not cover it.

I asked my insurance rep, and he discouraged me from using the fireplace as it is, given the college student factor.