When underwriting title insurance, there is an ALTA endorsement for nearly every situation you can imagine. In this article, we dive into the ALTA future advance endorsements and discuss when you can use them in a title policy.
ALTA 14 Endorsements
The ALTA 14 Future Advances series of endorsements are intended for use in states that have future advance statutes giving optional advances the same priority as obligatory advances. It provides affirmative insurance that the subsequent advances have the same priority as the original advance. The ALTA 14.1 provides the same coverage as the ALTA 14, EXCEPT for matters of which the insured has knowledge at the time of the advance. The ALTA 14.2 is used when insuring a Mortgage securing a Letter of Credit. The ALTA 14.3 is used when insuring a Mortgage securing a Reverse Mortgage.
Learn more about this and other ALTA endorsements by requesting a free copy of our endorsement book!
Contact a Commercial Title Expert
The team at Commercial Partners Title Company works with clients throughout the country on their commercial real estate transactions. We offer title search, title underwriting, title closing, and escrow services. With decades of experience under our belts, we have the knowledge and expertise to help you through your transaction. Contact us today to learn more about the full range of our services and how we can assist you with your transaction. You can find us at our primary office located in downtown Minneapolis.