ALTA endorsements are wide-ranging and cover a lot of different potential scenarios. In this article, we are going to discuss the ALTA Sears Endorsement and when it can be effectively utilized in an owner’s title insurance policy.
What is the ALTA Sears Endorsement?
This endorsement is ordinarily used when an Owner purchases the property intending to make improvements in the future which will increase the value of the insured property. The Endorsement represents the Company’s agreement to either increase coverage under the existing policy, or to issue a new policy for the full value of the land and improvements, subject only to those exceptions raised on the original policy (to which the endorsement is attached) together with matters which occur subsequent to the date of the original policy.
Experts in Commercial Title
Want to learn more about ALTA endorsements? Request your free copy of our endorsement book today. If you have any questions about endorsements or title insurance in general, don’t hesitate to reach out to Commercial Partners Title. For decades, we have been building up our reputation as experts in the field of commercial title insurance. We have the expertise and resources needed to facilitate your next commercial transaction. Contact us today at our downtown Minneapolis office to set up a time to chat with one of our commercial title experts.