CLTA Lessee Under Mineral Lease Endorsement Guideline 100.24
Explanation:Provides ALTA lender with insurance that the lessee, under a mineral, oil or gas lease shown in Schedule B of the loan policy, has no right to use or enter upon the surface of the land.
Underwriting Requirements:The oil, gas or mineral lease must be reviewed prior to the issuance of this endorsement to determine if there is an express prohibition for the lessee to enter upon the surface of the land. Unless the prohibition is set out in the lease, this endorsement may not 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):