CLTA Exercise of Reverter Rights in CC&R and Unmarketability of Title Endorsement Guideline 100.18
Explanation:Provides the ALTA lender insurance against loss due to the exercise of a reverter, right of reentry or power of termination provision in the CC&Rs and as to the unmarketability of title due to such provisions.
Underwriting Requirements:(1) This endorsement is somewhat similar to the CLTA 100.12 Endorsement and therefore the same underwriting guidelines apply.
(2) Since this endorsement affords coverage as to the unmarketability of the title due to the presence of the reverter provisions, issuance of this endorsement should be approved by the appropriate Stewart Title Guaranty underwriting personnel.
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):