Maintain Title insurance During a Property Transfer
Any time you transfer property you must consider the title insurance implications. Title insurance will generally be invalidated upon the transfer of the property. However, title insurance isn’t invalidated if you transfer the property to a wholly owned LLC. That is, an LLC that’s completely owned by you, the person that also owned the property. You also won’t invalidate it if you add your spouse to title, for example. That’d be a transfer, but in that circumstance they’re not going to invalidate it. You also can transfer the property to an intervivos trust where you are the settlor of that trust. This is the type of strategy that we’ll be using with, inside of our anonymity land trusts when we start transferring property. My name is Scott Smith. I’m an asset protection attorney, I’m a real estate investor and I wanna help you.