CLTA Foundations-No Violation, No Encroachment by Improvements Endorsement Guideline 102.4
Explanation:Provides the lender with insurance that the foundation of structures under construction are within the boundaries of the land and that their location does not violate particular CC&Rs referred to in Schedule B.
Underwriting Requirements:(1) This endorsement is referred to as a foundation endorsement; therefore, the foundation must be completed.
(2) Although this endorsement is similar to the CLTA 100 Endorsement, it cannot be used or utilized on vacant property.
(3) If encroachments or violations are present on the property or if there is doubt concerning the location of the foundation, this endorsement cannot be issued.
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):