Quick question:
Regarding insurance, I have a subject-to property in a trust that I need to put insurance on. The way I am doing it is by canceling the previous insurance and putting my own in place. The question is: who should I put as the primary insured? Should it be the name of the trust or the primary beneficiary (my LLC)?
I would think that it should be the name of the trust as to raise less of a red flag with the bank.
Also, since I am selling it on a lease option (I actually have already received my nonrefundable deposit to hold the property), what is the most common type of policy other investors use (dwelling, landlord, other)?
I have until about Wednesday because that is when the tenant/buyer is moving in, so I will be checking the post often.
Thanks for any input.