INS

Insureds

Generally, the insured is the fee owner, the lessee, or the mortgagee. If you are asked to insure an optionee, a collateral assignee, or a person who does not hold title, please call the Company.

Exception

INSX01 ALTA

Insured Is Not Owner

The coverage provided the insured under this Policy is subject to any rights, defenses, and exclusions which the Company may have against the person shown vested with the estate or interest in the land described in Schedule A.
Comment: The policy may insure a party who is not the owner: for example, an optionee, partner, or stockholder. If the Company approves issuance of the policy, you should add this exception for defenses applicable to the record owner (such as matters the record owner created or knew).

Schedule A

INSS01 STG

Assigns – Loan Policy

__________________, and its successors and assigns as their interests appear.
Comment: This language is sometimes requested by lenders in Schedule A of a Loan Policy. If requested, you may use this language (except in Texas) only on a Loan Policy. However, the Company prefers to use INS81 or INS82. If no such language appears in Schedule A, the Policy still inures to assignees who are not obligors.

See Underwriting Manual

INSS02 STG

Assigns Per Policy – Loan Policy

__________________, and its successors and assigns as provided in the Policy.
Comment: This language is the Company’s preferred language to add in Schedule A of a 1992 ALTA Loan Policy. The Loan Policy does not inure to assignees who are obligors (e.g., note maker or guarantor).

See Underwriting Manual

INSS03 STG

Assigns Except Obligors – Loan Policy

________________, and each successor in ownership of the indebtedness secured by the insured mortgage, except a successor who is an obligor under the provisions of Section 12(c) of the Conditions and Stipulations.
Comment: This language is the Company’s preferred language to add in Schedule A of a 1992 ALTA Loan Policy. The Policy does not inure to assignees who are obligors (e.g., note maker or guarantor).

See Underwriting Manual

INSS04 STG

HUD – Loan Policy

__________ and/or The Secretary of Housing and Urban Development of Washington, D.C., their respective successors and assigns as their interests may appear.
Comment: This language is added in Schedule A on Loan Policies covering HUD insured loans.

See Underwriting Manual

INSS05 STG

VA – Loan Policy

___________ and/or The Secretary of Veterans’ Affairs, an officer of the United States of America, their respective successors and assigns as their interests may appear.
Comment: This language is frequently added in Schedule A on Loan Policies covering VA guaranteed loans.

See Underwriting Manual

INSS06 STG

HUD – Owner’s Policy

The Secretary of Housing and Urban Development of Washington, D.C., and its successors in office.
Comment: When issuing an Owner’s Policy to HUD, do not add the phrase “and assigns,” after the name of the insured since the Policy is not “assignable” to its buyer.