CLTA Allocation of Liability Endorsement Guideline 107.1
Explanation:Allocates a specified amount of total policy liability to each of several lots or parcels set out in the legal description of either a loan or owner's policy. This endorsement is used to apportion total liability under a policy insuring two or more parcels so as to limit exposure in the event of a partial loss under the policy.
Underwriting Requirements:(1) Total apportionment must equal the amount of insurance shown in Schedule A of the policy.
(2) Generally, the owner or lender insured will allocate amounts to be given to each separate parcel.
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):