CLTA Damage to Easement Endorsement Guideline 103.1
Explanation:Provides the lender with insurance against loss resulting from the exercise of the right of use or maintenance of a particular easement.
Underwriting Requirements:(1) This endorsement is requested by a lender when an improvement on the subject property either does or may encroach upon an easement which according to a description in the easement is not specifically located.
(2) An inspection is required; and
(3) The endorsement may be issued if the following additional requirements are met:
(a) All rights under the easement have been extinguished by reason of the relocation of the easement facility onto other land; or
(b) All rights under the easement are abandoned or were not exercised and no future use of rights of the land are contemplated by the easement holder.
The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.
Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.
This guideline applies to the following form(s):