Insurance Implications of Transferring Real Property To A Trust, Partnership, Or LLC

For those of you who have transferred real property to trusts, partnerships, or limited liability companies, a recent California appellate court decision emphasized the importance of updating your insurance policies to reflect the changes in ownership or risk not being covered by your existing insurance policies. In Kee Kwok v. Transnation Title Insurance Company (2009), the California Court of Appeals held that the insurance policy covering an LLC did not cover a husband and wife when they transferred title to […]

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