Posted by gerald(tx) on July 12, 2007 at 13:51:04:
You don’t need a new policy.
Possible exception would be if you plan on bringing a partner into the LLC, or selling the LLC rather than the property itself.
Otherwise, it is not needed.
gerald
Title Policy Insurance - Posted by Chris
Posted by Chris on July 12, 2007 at 10:07:11:
I spoke with a title company regarding a transfer of title from my personal name to an LLC. I was informed that I needed to establish a new title policy under the business name for protection because the policy would no longer be valid upon transfer. Is this true? The cost was $150.00 plus recoridng fees. Why would I need a new policy when I will continue to own the property under the LLC?