Title Insurance on Rental Property

1

I have a rental property that I might move into this spring.

Her lease expires 2/29/2024.

Gives me headache thinking about moving in it, gave my tenant notice last September that I would have to raise the rent significantly if she chose to renew in 2024, she said she wouldn’t be able to afford it.

I’m thinking of offering her a smaller increase in January, I don’t have the energy (job burnout) to find a new tenant and if I move in it the bank says I will have to give up my IORR (investor owned residential real estate loan) and refi at current rates (ironically the bank will be at less risk).
Every year I have to give them a financial statement and copy of lease so I can’t not tell them.
That’s not my question.

Question is I bought an owners title insurance policy for it, will that policy still be in place if I move in it ? or would I have to buy a new one ? Technically it’s not changing ownership, I could check the docs but don’t have the energy right now.

2

If you bought a standard Owner’s Title Policy when you bought the property It won’t make any difference because an OWNER’S policy only covers stuff up until the date you take title. Better and more complete title coverage is available by purchasing an ALTA policy aka EXTEDED COVERAGE or sometimes a GOLD policy. See below:

3

I’ll check it out, thanks.