In our continuing mission to provide some insight into the available ALTA title insurance endorsements, today we’re going to examine the private rights endorsements. In this article, we are going to examine the ALTA private rights endorsements and when they can be used when underwriting a title insurance policy.
Private Rights Endorsements
These endorsements protects the Insured owner against financial loss caused by the enforcement of a Private Right in a Covenant affecting the Title at Date of Policy (a) results in the invalidity, unenforceability or lack of priority of the lien of the Insured Mortgage, or (b) causes a loss of the Insured’s Title acquired in satisfaction or partial satisfaction of the Indebtedness. “Private Right” is defined in the endorsement as: (i) a private charge or assessment; (ii) an option to purchase; (iii) a right of first refusal; or (iv) a right of prior approval of a future purchaser or occupant. The ALTA 9.6.1 limits the coverage relating to a private charge or assessments to those due and payable at Date of Policy
Contact Commercial Partners Title Company
Commercial Partners Title specializes in facilitating and underwriting commercial title insurance transactions in Minnesota and across the United States. Our team consists of expert title closers, underwriters, and escrow agents – all ready and able to help you through the nitty-gritty details of your commercial transaction. Reach out to our experts today to learn more about our title insurance services and see how we can help you through your next transaction. You can find us at our main offices located in the US Bank building in downtown Minneapolis.