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Mark Goodman Commercial Partners Title, LLC is dedicated to providing unparalleled customer service, commercial title insurance solutions, and creating great relationships. It is vital that we continue to find ways to execute on these promises to our clients; and with the advancement of social media, we believe we can take our values and ideals to a new level.

Please take some time to revisit our website and take advantage of our social media presence.

I hope you find our blog to be informational and educational. We want to continue to be your Experts in commercial title insurance.

I welcome your feedback.

Cordially, Mark

February 20, 2020 by Mark Goodman

A Template of the ALTA Private Rights – Owner’s Policy Endorsement

This article offers a template of the ALTA 9.9-06 endorsement for Private Rights – Owner’s Policy. Request a copy of our free endorsement book today to learn more about this and other ALTA endorsements.

PRIVATE RIGHTS – OWNER’S POLICY (ALTA 9.9-06) (Revised 04/2/2013)

The insurance provided by this endorsement is subject to the exclusions in Section 4 of this endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy.
For the purposes of this endorsement only:
1. “Covenant” means a covenant, condition, limitation or restriction in a document or instrument recorded in the Public Records at Date of Policy.
2. “Private Right” means
  1. an option to purchase;
  2. a right of first refusal; or

a right of prior approval of a future purchaser or occupant.

The Company insures against loss or damage sustained by the Insured under this Owner’s Policy if enforcement of a Private Right in a Covenant affecting the Title at Date of Policy based on a transfer of Title on or before Date of Policy causes a loss of the Insured’s Title.
This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees, or expenses) resulting from:
1. any Covenant contained in an instrument creating a lease;
2. any Covenant relating to obligations of any type to perform maintenance, repair, or remediation on the Land;
3. any Covenant relating to environmental protection of any kind or nature, including hazardous or toxic matters, conditions, or substances; or
4. any Private Right in an instrument identified in Exceptions (______) in Schedule B.

This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.

February 18, 2020 by Mark Goodman

Construction Loan – Loss of Priority – Direct Payment Endorsement Template

This article provides a template of the ALTA Construction Loan – Loss of Priority – Direct Payment Endorsement. Request a copy of our endorsement book to learn more about this and other ALTA endorsements.

CONSTRUCTION LOAN – LOSS OF PRIORITY – DIRECT PAYMENT ENDORSEMENT (ALTA 32.1-06) (Revised 4/2/2013)

Covered Risk 11(a) of this policy is deleted.
The insurance [for Construction Loan Advances] added by Section 3 of this endorsement is subject to the exclusions in Section 4 of this endorsement and the Exclusions from Coverage in the Policy, the provisions of the Conditions, and the exceptions contained in Schedule B. For the purposes of this endorsement and each subsequent Disbursement Endorsement:
1. “Date of Coverage”, is [________________________] [Date of Policy] unless the Company sets a different Date of Coverage by an ALTA 33-06 Disbursement Endorsement issued at the discretion of the Company.
2. “Construction Loan Advance,” shall mean an advance that constitutes Indebtedness made on or before Date of Coverage for the purpose of financing in whole or in part the construction of improvements on the Land.
3. “Mechanic’s Lien,” shall mean any statutory lien or claim of lien, affecting the Title, that arises from services provided, labor performed, or materials or equipment furnished.
The Company insures against loss or damage sustained by the Insured by reason of:
1. The invalidity or unenforceability of the lien of the Insured Mortgage as security for each Construction Loan Advance made on or before the Date of Coverage;
2. The lack of priority of the lien of the Insured Mortgage as security for each Construction Loan Advance made on or before the Date of Coverage, over any lien or encumbrance on the Title recorded in the Public Records and not shown in Schedule B; and
3. The lack of priority of the lien of the Insured Mortgage as security for each Construction Loan Advance made on or before the Date of Coverage over any Mechanic’s Lien if notice of the Mechanic’s Lien is not filed or recorded in the Public Records, but only to the extent that direct payment to the Mechanic’s Lien claimant for the charges for the services, labor, materials or equipment for which the Mechanic’s Lien is claimed has been made by the Company or by the Insured with the Company’s written approval.
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees or expenses) by reason of any Mechanic’s Lien arising from services, labor, material or equipment:
1. furnished after Date of Coverage; or
2. to the extent that the Mechanic’s Lien claimant was not directly paid by the Company or by the Insured with the Company’s written approval.

February 17, 2020 by Mark Goodman

Mineral Rights Endorsement Template: Minerals & Other Subsurface Substances – Buildings

Below you will find a template for the ALTA Mineral Rights Endorsement: Minerals & Other Subsurface Substances – Buildings. Learn more about ALTA endorsements in our free endorsement book.

MINERALS AND OTHER SUBSURFACE SUBSTANCES – BUILDINGS (ALTA 35-06) (Adopted 4/2/2012)

The insurance provided by this endorsement is subject to the exclusion in Section 4 of this endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy.
For purposes of this endorsement only, “Improvement” means a building on the Land at Date of Policy.
The Company insures against loss or damage sustained by the Insured by reason of the enforced removal or alteration of any Improvement resulting from the future exercise of any right existing at Date of Policy to use the surface of the Land for the extraction or development of minerals or any other subsurface substances excepted from the description of the Land or excepted in Schedule B.
This endorsement does not insure against loss or damage (and the Company will not pay costs, attorneys’ fees, or expenses) resulting from:
1. contamination, explosion, fire, vibration, fracturing, earthquake or subsidence; [or]
2. negligence by a person or an Entity exercising a right to extract or develop minerals or other subsurface substances[; or
3. the exercise of the rights described in ( )]. *

* Instructional note: identify the interest excepted from the description of the Land in Schedule A or excepted in Schedule B that you intend to exclude from this coverage.

February 13, 2020 by Mark Goodman

ALTA Endorsement Template – Co-Insurance Single Policy Endorsement

Here we provide a template of the ALTA endorsement for Co-Insurance (Single Policy). Learn more about ALTA endorsements by requesting our free endorsement book.

CO-INSURANCE – SINGLE POLICY ENDORSEMENT (ALTA 23-06) (Revised 10/16/2008)

Attached to and made a part of Issuing Co-Insurer’s Policy No. ____________________ (“Co-Insurance Policy”). Each title insurance company executing this Co-Insurance Endorsement, other than the Issuing Co-Insurer, shall be referred to as a “Co-Insurer.” Issuing Co-Insurer and each Co-Insurer are collectively referred to as “Co-Insuring Companies.”

By issuing this endorsement to the Co-Insurance Policy, each of the Co-Insuring Companies adopts the Co-Insurance Policy’s Covered Risks, Exclusions, Conditions, Schedules and endorsements, subject to the limitations of this endorsement.
Each of the Co-Insuring Companies shall be liable to the Insured only for its Percentage of Liability of: (a) the total of the loss or damage under the Co-Insurance Policy, but in no event greater than its respective Amount of Insurance set forth in this endorsement; and (b) costs, attorneys’ fees and expenses provided for in the Conditions.
Any notice of claim and any other notice or statement in writing required to be given under the Co- Insurance Policy must be given to each of the Co-Insuring Companies at its address set forth above.
Any endorsement to the Co-Insurance Policy issued after the date of this Co-Insurance Endorsement must be signed by each of the Co-Insuring Companies by its authorized officer or agent.
This Co-Insurance Endorsement is effective as of the Date of Policy of the Co-Insurance Policy. This Co-Insurance Endorsement may be executed in counterparts.

This endorsement is issued as part of the Coinsurance Policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.