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Buying & Selling Real Estate

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Ryan Bird
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107
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Name Insured vs Additional Insured Question

Ryan Bird
Posted Jun 20 2020, 08:54

I have deeded a property to an LLC so LLC is sole owner in the deed but mortgage is still in my name. Planning to rent the property out.

Who should be the -> 

1. Name Insured?

2. Additional Insured? 

3. What all are the different policies I should take for the llc and myself for property/liability coverage?


Any insights would be helpful. Brokers are giving me different recommendations - some saying title owner needs to be the name insured. Few others are saying mortgage owner needs to be named insured and otherwise the bank won't agree.

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