If you don’t like to read, you haven’t found the right book

What is an Alta 116 endorsement?

CLTA Form 116 – Address: This endorsement is used with ALTA Loan Policies when a lender is requiring specific coverage determining the address of the insured land and the type of improvement located therein.

What is ALTA Endorsement Form 9?

Explanation: This endorsement to the Loan policy insures against violations of restrictions, encroachments over easements, building lines or property lines, and damage by reason of mineral development. Endorsement 9 is issued with a 1992 ALTA Loan Policy. Endorsement 9-06 is issued with a 2006 ALTA Loan Policy.

What is an ALTA 8.2 endorsement?

The Environmental Protection Lien Endorsement (ALTA Form 8.2) insures the lender on commercial real estate against loss of priority due to any recorded environmental protection liens. There is no special environmental coverage available for Owner’s Policies.

What is an Alta 14?

ALTA 14 (07-01-21) contains modifications to align the endorsement to the terms of the 2021 ALTA Loan Policy and is designed to be issued with the 2021 Loan Policy. It is not necessary to indicate “-06” or the parenthetical (date) on the endorsement attached to the policy.

What is Alta 32?

ALTA 32 insures only to the extent that the charges for the services, labor, materials, or equipment for which the Mechanic’s Lien is claimed were designated for payment in the documents supporting a Construction Loan Advance disbursed by or on behalf of the Insured on or before Date of Coverage.

What is an ALTA 25 endorsement?

The ALTA Endorsement 25-06 is commonly called the Same as Survey. This endorsement is available for loan and owner’s policies and provides coverage in the event that the land identified on the survey described in the endorsement is not the same land as described in the policy.

What is an Alta 7 endorsement?

Manufactured Housing Endorsement (ALTA 7): Overview The improvements must become part of the land as defined in the terms of the ALTA policies. This endorsement may be issued on either a loan or owner’s policy upon request.

What is an ALTA 7.1 endorsement?

This endorsement is issued with a Loan Policy and insures that: (1) the owner of the land owns the manufactured housing unit, (2) the manufactured housing unit is on the land, (3) the manufactured housing unit is real property, (4) there are no personal property liens against the manufactured housing unit (unless …

What is an Alta 7?

Manufactured Housing Endorsement (ALTA 7): Overview Manufactured Housing Endorsement, the ALTA 7, is issued as affirmative coverage that the manufactured housing unit (including mobile homes) situated on the insured land is included in the policy definition of “Land”.

What is an ALTA 7 06 endorsement?

The minimum premium for this endorsement is $25.00. This endorsement may be used for either an Owner’s Policy or Loan Policy. The endorsement is necessary in those cases in which the Policy includes not only the land but a manufactured housing unit (mobile home).

Why do I need an Alta endorsement 4?

The ALTA Endorsement 4 is designed to provide special comprehensive title protection as to matters peculiar to condominiums. This endorsement is available to both owners and lenders, subject to review of each item of coverage. This endorsement is not intended to insure the title of the developer.

What does Alta stand for in title insurance?

The American Land Title Association (ALTA) promulgates standardized title insurance policies that provide basic coverages for many common title insurance needs. Additionally, ALTA also offers a list of endorsements for real estate transactions that require additional coverages other than those accounted for in the title insurance policy.

How are Alta policy forms developed and approved?

As always, the forms have been developed by the ALTA Forms Committee and approved by the ALTA Board. An opportunity to review and comment is extended to ALTA Members and industry customers before final publication. The forms, in general, are made available for customer convenience.

What is the PUD endorsement form for Alta?

ALTA Endorsement Form 4.1 is designed for use in those jurisdictions. Planned Unit Development (PUD) Endorsement Form 5 is available for use for both owner’s and loan policies in some jurisdictions. The PUD Endorsement Form 5 insures against violations of any restrictive covenants.