Land Trust - who should be named on the insurance policy?
Hi Folks
Need your help please.
On an investment property that's rented out, who is the owner of the insurance policy?
The structure of ownership is as follows:
Title to the home taken in the name of the land trust. So the title says something like '123 main st trust, John Smith trustee"
The beneficiary is a LLC.
The holding entity that owns the LLC is a Family Limited Partnership.
So there are three entities that flow down in ownership top to bottom.
When taking an insurance policy out - who is named on the policy documents ?
How is the policy written ?
Thanks