CLTA Exterior Boundary of Condominium Endorsement Guideline 116.2
Explanation:This endorsement provides an insured owner or lender at the time the policy is issued with assurances that 1) the dimensions of the exterior boundary of the common area referred to in the policy description in Schedule A are correctly shown on the designated map of record; 2) the elements referred to in the policy description comprising the condominium include specified improvements; and 3) said improvements have been assessed and are known as a particular street address.
This endorsement affords coverage that is similar to the CLTA 116 Endorsement where the subject property happens to be a condominium unit.
Underwriting Requirements:The issuance of the CLTA 116.2 Endorsement requires that an inspection be made of the subject property and a thorough examination of the exterior boundaries of the common area be made.
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):