Blog

100 - This endorsement offers an explicit extension of coverage to an ALTA Extended Coverage Loan Policy by adding insurance for certain recorded and “off-record” matters. The coverage is extended for Covenants, Conditions and Restrictions (CC&Rs): encroachments and the right to use the land surface for mineral developments. This endorsement is not issued in conjunction with policies covering raw land or construction loans.

100.12 - Also used with ALTA policies. Form 100.12 assures a lender or owner that existing CC&Rs do not contain any enforceable reverter, right of re-entry or power of termination.

100.18 - Provides insured ALTA lender or owner with coverage against loss by reason of the exercise or attempt to exercise reverter rights in CC&Rs.

100.23 - Provides insured ALTA lender with coverage against loss by reason of the exercise of surface rights for the extraction or development of minerals leased under an oil and gas lease.

100.29 - Provides insured owner or lender with coverage against loss by reason of the exercise of surface rights for the extraction or development of minerals excepted from the description of the land or shown as a reservation in Schedule B.

103.1 - Provides insured lender with coverage against loss by reason of the exercise of the right of use or maintenance or a particular easement by the easement holder.

103.3 - Provides insured lender with coverage against loss by reason of forced removal of improvements which encroach upon a particular easement.

103.7 - Provides insured owner or lender with assurance that the land described in Schedule A abuts upon a specific, physically open public street.

104.1 - Provides assignee of the insured mortgage with assurance concerning (a) validity of recorded assignment transferring the beneficial interest to the named assured assignee: and (b) full or partial reconveyances, modification or subordination of the insured mortgage.

110.5 - Provides insured ALTA lender with assurance concerning proper modification of the insured mortgage, including express priority coverage.

110.9 - Provides insured ALTA residential lender with coverage against loss by reason of lack of priority over (a) any federal or state environmental protection lien which is recorded in the public records, except as set forth in Schedule B, and (b) any state environmental protection lien provided for by any state statute in effect at Date of Policy, except as provided for by state statutes specified in the endorsement.

111.10 - Assured lender that future advances made under a “revolving line of credit” shall have the same priority as do advances made as of Date of Policy.

111.5 - Provides insured ALTA variable rate mortgage lender with coverage against loss by reason of (a) invalidity or unenforceability of the insured mortgage resulting from terms therein providing for changes in the rate of interest, or (b) loss of priority of the insured mortgage lien caused by the changes in the rate of interest, unpaid interest added to principal and/or interest on interest.

115 - Provides insured lender with assurance that the estate or interest covered by the policy is a condominium, in fee, and as such is entitled to be assessed and taxed as a separate parcel.

116 - An Address Endorsement used with ALTA policies, designating the street address of the land insured and specifying the type of improvement on said land.