The ALTA 32-06 endorsement provides coverage only to the extent that the charges for the services and/or materials rendered were designated for payment in the documents supporting a Construction Loan Advance disbursed by or on behalf of the Insured on or before the Date of Coverage.
The ALTA 32.1-06 endorsement provides coverage only to the extent that direct payments to the labor and material suppliers have been made by the Company or by the Insured with the Company’s written approval. The
ALTA 32.2-06 endorsement provides coverage only to the extent that direct payments to the labor and material suppliers has been made by the Insured or on the Insured’s behalf on or before the Date of Coverage.
When the Pending Disbursement Endorsement is included as a part of the Title Policy, the date of coverage for mechanic’s liens is extended through the use of the Disbursement Endorsement (ALTA 33-06). While the coverage for mechanic’s liens is extended, it does not change the Date of Policy or any other endorsements that have been issued in conjunction with the policy. The endorsement also inserts any additional exceptions resulting from the title search done in connection with the issuance of the endorsement.
Experts in Commercial Transactions
At Commercial Partners Title Company, we specialize in underwriting title insurance policies for commercial transactions. Our experts have decades of experience in the industry and put that experience to work on each and every transaction we facilitate. No matter how complex your transaction, we have the knowledge and expertise to ensure its success. Contact us today to learn more about our wide range of services and how we can help you on your next transaction. Our primary office is located in downtown Minneapolis but we work with clients throughout the United States.