NJRB 5-111 ALTA Endorsement 15-06 Nonimputation - Full Equity Transfer (Revised 9/10/07)

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NJRB 5-111 ALTA Endorsement 15-06 Nonimputation - Full Equity Transfer (Revised 9/10/07)

Form Document
V 1

[Entity as the named Insured and vestee of the insured estate or interest identified in Schedule A]



Attached to Policy No.

Issued by


The Company agrees that it will not assert the provisions of Exclusions from Coverage 3(a), (b), or (e) to deny liability for loss or damage otherwise insured against under the terms of the policy solely by reason of the action or inaction or Knowledge, as of Date of Policy, of

            [identify exiting or contributing partner(s) of the insured partnership entity, member(s) or manager(s) of the insured limited liability company entity, or officer(s) and/or director(s) of the insured corporate entity]

whether or not imputed to the Insured by operation of law, provided

[identify the “incoming” partners, members, or shareholders]

acquired the Insured as a purchaser for value without Knowledge of the asserted defect, lien, encumbrance, adverse claim, or other matter insured against by the policy.

This endorsement is issued as part of the policy.  Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy, or (iv) increase the Amount of Insurance.  To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls.  Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.

[Witness clause optional]


By: ______________________________________

            Authorized Signatory

No guidelines are available for this form at this time.