STG Beneficial Interest Endorsement 1
This form should not be used if a comparable ALTA version is available. If a comparable ALTA version is available, the most current version of the ALTA form available in each state should be used, unless approved by a Stewart underwriter.
BENEFICIAL INTEREST ENDORSEMENT
Attached to and Forming a Part of
Policy of Title Insurance No. __________
STEWART TITLE GUARANTY COMPANY
The Company hereby insures the Insured against loss or damage that it may sustain by reason of inaccuracy in the following:
1. There are no defects, liens or encumbrances, as of the Effective Date of this Policy, affecting the beneficial interest in the Land Trust described in Schedule A that are not shown in Schedule B.
2. _______________ owns 100 percent of the beneficial interest in the Land Trust described in Schedule A.
The liability of the Company under this Endorsement said Policy and any other endorsements therein shall not exceed, in the aggregate, the face amount of the Policy and costs which the Company is obligated under the Conditions and Stipulations thereof to pay. Any payment under this Endorsement to the Insured shall reduce the Company's liability to the Insured named in Schedule A and any payment to the Insured named in Schedule A shall reduce the Company's liability under this Endorsement.
THIS ENDORSEMENT MAY NOT BE ISSUED WITHOUT APPROVAL FROM STEWART TITLE GUARANTY UNDERWRITING PERSONNEL
NOTE: This Endorsement does not insure against loss or damage by reason of any enforcement or attempted enforcement of any transfer of transaction tax, but any such enforcement or attempted enforcement will not affect the coverage of this Endorsement.
Nothing herein contained shall be construed as extending or changing the Effective Date of said Policy, unless otherwise expressly stated.
This Endorsement is made a part of the policy and is subject to all of the terms and provisions thereof and of any prior endorsements thereto. Except to the extent expressly stated, it neither modifies any of the terms and provisions of the Policy and any prior endorsements, nor does it extend the effective date of the Policy and any prior endorsements, nor does it increase the face amount thereof.
[Witness clause optional]
For issuing guidelines on this form, see Guidelines