The American Land Title Association (ALTA) adopted several new forms and products
on October 17, 1998. Those forms include the following:
The ALTA revised the ALTA Endorsement 3 (Zoning) for the Loan and Owner's
Policy (generally for unimproved land). The ALTA made only minor changes to
The ALTA revised the ALTA Endorsement 3.1 (Zoning-completed structure) for
the Loan and Owner's Policy. The endorsement was amended to provide coverage
as to number of parking spaces.
The ALTA revised the ALTA Endorsement Form 9 (Restrictions, Encroachments,
Minerals) for the Loan Policy. The ALTA made only minor changes to this Endorsement.
The ALTA adopted the new ALTA Endorsement Form 9.1 (Restrictions, Encroachments,
and Mineral Endorsement) for the Owner's Policy on Unimproved Land and
the new ALTA Endorsement 9.2 (Restrictions, Encroachments, and Mineral Endorsement)
for the Owner's Policy on Improved Land. These endorsements are similar
to nonstandard ?owner's comprehensive endorsements? that
have been issued by title companies.
We are in the process of filing these endorsements and filing rates, where
necessary, for the new Endorsement Forms 9.1 and 9.2.
Our guidelines for these endorsements are available through the corresponding
form, which can be accessed through the references section at the end of this
HOMEOWNER'S POLICY OF TITLE INSURANCE
This new form may be issued on single family residences, in accordance with
a separate bulletin we are issuing. We are in the process of filing this Policy
and a rate, where required. This Policy is similar to our Gold Owner's
ALTA STANDARD EXCEPTIONS
These Standard Exceptions are available on our Virtual Underwriter and may
be seen at http://wwwvuwriter.com. The ALTA Standard Exceptions are similar
are based in part upon our prior Standard Exceptions. The ALTA Standard Exceptions
are supplemented by both general and state specific Stewart Exceptions on Virtual
An example of the format of the new Standard Exceptions is as follows:
Facts Disclosed by Survey
Any rights, easements, interests or claims which may exist by reason of or
reflected by the following facts shown on the survey dated ____________________
____________________ [Describe Encroachment]
Comment: If the survey or inspection shows conflicts, encroachments or evidence
of easements, you should except to those matters. In appropriate cases in accordance
with local custom, you may provide affirmative insurance or endorsement coverage
as to such matters.