The ALTA 3.2 endorsement is the zoning endorsement for land under development. As with any endorsement, there are numerous factors to be aware of when dealing with ALTA 3.2. In this article, we are going to dive into the five assurances of the ALTA 3.2 endorsement for zoning for land under development.
The Five Assurances of ALTA 3.2
The ALTA 3.2 endorsement is the first in the land under development series. It assures that the identified use of the land is allowed under the related zoning classification. The ALTA 3.2 zoning endorsement for improved land assures the adequacy of all of the following factors:
- The area width or depth of the land
- Floor space area of the improvement
- Setback of the improvement from the property lines of the land
- The height of the improvement is adequate
- The number of parking spaces in the improvement
The ALTA 3.2 endorsement correlates these assurances with the development plans. If the property in question matches the construction plans, then this endorsement will protect against damage caused by the violation of one of these assurances. If the construction does not correlate with the development plans, then the underwriter may be relieved of liability.
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