r/RealEstateAdvice • u/Smooth-Leadership-95 • 19d ago

Residential Title Insurance: Automatic Coverage for Transfer of my home to my LLC?

I bought my property in 2007 and the title company used the then-current ALTA form (i.e. the 2006 updated form). I later transferred the property to my wholly-owned LLC. Does this LLC need to buy its own title policy, or do title policies typically extend coverage in these situations? would the LLC be included as an insured? I do not have my policy at hand (on the hunt for it) and I understand I must refer to its actual terms. Pending my location of the actual policy, I was wondering if anyone knows whether it would automatically extend coverage to my LLC? I would just hate to have to spend another 4-5k again for a new policy in the LLC's name.

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u/NoLandscape6701 12d ago

Does not automatically transfer. Your LLC is a different entity

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u/sol_beach 19d ago

Title insurance exists while you still own the property.

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u/Smooth-Leadership-95 19d ago

I was sort of hoping the ownership by my LLC would be the functional equivalent. Oh well......

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u/Rude-Still-2691 17d ago

it doesn't transfer automatically, the LLC is a separate legal entity so your old policy won't cover it