In this article, we are going to talk about the planned unit development endorsement and when it can be effectively utilized in a title insurance policy.
Explaining the Planned Unit Development Endorsement
This endorsement is designed to provide the insured with broad coverage in planned unit development projects that there are no violations of covenants, that assessments are subordinate to the lien of the insured mortgage or that there are no due but unpaid assessments, and insures against loss as a result of encroachments and as a result of unexercised rights of first refusal. It is important to note that this endorsement relates to property governed by a Declaration of Covenants, Conditions and Restrictions, not the zoning concept of a Planned Unit Development.
To learn more about this and other endorsements, request your free copy of our endorsement book!
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Commercial Partners Title is your one-stop shop for all your title insurance needs! For decades, we have been providing commercial title and abstract services to clients throughout the state of Minnesota and across the country. We have cultivated a reputation as being experts in the field of commercial title insurance – a distinction we wear with pride. Our team can walk you through all the details of your commercial transaction, from the planning stages all the way through to the closing table. Contact us today at our Minneapolis office to set up a time to chat with our experts about your next commercial transaction.