STG Additional Insured Endorsement for Homeowner's Policy
This form should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in each state should be used, unless approved by a Stewart underwriter.
Additional Insured Endorsement for Homeowner's Policy
Attached to and Forming a Part of
Policy No. _____________
STEWART TITLE GUARANTY COMPANY
The sentence in the OWNER'S INFORMATION SHEET reading "It applies only to a one-to-four family residence and only if each insured named in Schedule A is a Natural Person." is amended to read as follows:
It applies only to a one-to-four family residence and only if each insured named in Schedule A is a Natural Person, corporation, partnership, Limited Liability Company or other similar legal entity.
In addition to the insured named in Schedule A and also those identified in Section 2.b. of Conditions, this Policy insures:
(A) successors to an insured by dissolution, merger, consolidation, distribution, or reorganization;
(B) successors to an insured by its conversion to another kind of legal entity;
(C) a grantee of an insured under a deed delivered without payment of actual valuable consideration conveying the Title
(1) if the stock, shares, memberships, or other equity interests of the grantee are wholly-owned by the named insured,
(2) if the grantee wholly owns the named insured,
(3) if the grantee is wholly-owned by an affiliated legal entity of the named insured, provided the affiliated legal entity and the named insured are both wholly-owned by the same person or legal entity, or
With regard to (A), (B) and (C) reserving, however, all rights and defenses as to any successor that the Company would have had against any predecessor insured.
This endorsement is made a part of the policy and is subject to ail of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the policy and any prior endorsements, nor does it extend the effective date of the policy and any prior endorsements, nor does it Increase the face amount thereof.
Signed under seal for the Company, but this Endorsement is to be valid only when it bears an authorized countersignature.
No guidelines are available for this form at this time.