STG Loan Policy to Insure Lender on Contract Purchaser's Interest
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.
Date of Policy: Amount of Insurance: $
1. Name of Insured: Name of the Lender
2. The estate or interest in the land which is covered by this policy is: A fee simple estate.
3. Title to the estate or interest in the land is vested in: Record owner.
4. The land referred to in this policy is described as follows:
Legal description as contained in the contract.
(On the assumption that:
1. The record owner does in fact own the land.
2. The legal description is an insurable one.)
This policy does not insure against loss or damage (and the Company will not pay costs, attorneys' fees or expenses) which arise by reason of:
(a) Rights or claims of parties in possession not shown by the public records.
(b) Easements, or claims of easements, not shown by the public records.
(c) Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey and inspection of the premises.
(d) Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and not shown by the public records.
(e) Taxes or special assessments which are not shown as existing liens by the public records.
Liens, encumbrances, etc. of record.
No. ________ Terms, provisions, conditions and limitations contained in the contract of sale entered into by __ (record owner) __ , seller, and __ (mortgagor) __ , buyer, dated ________________ , recorded _______________ in Book _____ , Page _____ (notice of which is given by the memorandum dated ______________ recorded _____________ in Book _____ Page _____ .
No. _____ Describe the (mortgage) (deed of trust) executed by the contract vendor (purchaser) to the mortgagee.
No. _____ Any loss or damage occasioned by the rejection of the contract referred to in Item _____ hereof, pursuant to any provisions of the Bankruptcy Act.
No guidelines are available for this form at this time.