CLTA 104.1 (ARCHIVED) Assignment of Mortgage (09-10-10)

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CLTA 104.1 (ARCHIVED) Assignment of Mortgage (09-10-10)

Form Document
V 6

Attached to Policy No. ___________
Issued by

The Company hereby insures _____________________________ against loss or damage which such insured shall sustain by reason of any of the following:

(a) The failure of the beneficial interest under the mortgage referred to in paragraph __ of Schedule ___________ to have been transferred to such insured by a valid assignment or assignments;

(b) The existence of any reconveyance, either full or partial, of the insured mortgage, or any modification or subordination thereof, appears in the public records.

This endorsement does not insure against loss or damage, and the Company will not pay costs, attorneys' fees, or expenses, by reason of any claim that arises out of the transaction creating the assignment by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws that is based on:

1. the assignment being deemed a fraudulent conveyance or fraudulent transfer; or

2. the assignment being deemed a preferential transfer.

This endorsement shall be effective provided that, at Date of Endorsement, (1) the note or notes secured by the lien of the Insured Mortgage have been properly endorsed and delivered to the Assignee, or (2) if the note or notes are transferable records, the Assignee has "control" of the single authoritative copy of each "transferable record" as these terms are defined by applicable electronic transactions laws.





For issuing guidelines on this form, see Guidelines.