Quit Claim Issues with Title Insurance
2yrs ago I purchased a property using a hard money loan to refinance. Fast forward till about 2 months ago. I received a legal documents stating there is a title issue on the home so naturally I contact my title insurance provider to start the process.
Like most investors we quit claimed the home from our name into our LLC. our title insurance provider is declining to offer coverage stating that since we took it out of our name and even though i quit claimed in back, that voided the coverage.
I dont know what I will do moving forward on this. I seems as the word of caution for investors is maybe not to quit claim a home from your personal name into an LLC as it can void the coverage.
