In our continuing series on ALTA endorsements, this article focuses on the location, easement, and environmental endorsements that can be used in a title insurance policy.
This endorsement insures that a particular type of improvement is located at a particular address and connects that street address to the insured property. The ALTA 22.1 also references an attached map of the property. This is normally used on Residential transactions.
This ALTA 28-06 Endorsement provides insurance against loss in the event that a specific easement holder shall (1) cause damage to a building located on the land at date of policy, or (2) compel the removal or alteration of an existing building located on the land at date of policy. The coverage is similar to that provided by the CLTA 103.1 and 103.3 Endorsements.
Environmental Lien Endorsements
These endorsements protect against loss resulting from environmental protection liens. The ALTA 8.1 Endorsement is used for Residential property. The ALTA 8.2 is designed for use with commercial property. While the 8.1 is exclusively for use with a Loan Policy, the 8.2 can be used with either an Owner’s Policy or a Loan Policy.
Get Help with Your Next Commercial Transaction
Request your copy of our free endorsement book now to learn more about these and other ALTA endorsements. Get the help you need with your next commercial transaction by contacting the experts at Commercial Partners Title Company. Our team of escrow agents, title closers, and underwriters have the experience needed to facilitate all of the aspects of your transaction. Give us a call today to learn more about the extent of our services and how we can help you with all of your commercial real estate needs. Our main office is located in downtown Minneapolis but we work with clients throughout the United States.