BH Valid Parcel Endorsement – Separate Parcels or Lots (08-31-2022)

VALID PARCEL ENDORSEMENT – SEPARATE PARCELS OR LOTS
(Bahamas – Version August 2022)

ISSUED BY STEWART TITLE LIMITED (the “Company”)

Agent’s File No.:__________________________________

Endorsement to Policy No.: _________________________________

Date of Issuance: _________________________________

The Company hereby insures the Insured against loss, including costs, attorneys’ fees and expenses which the Insured may become obligated to pay in accordance with the terms of the Policy by reason of:

1. a final and unappealable court decree of a court of competent jurisdiction which declares or holds that PROPERTIES 1 ([insert details for first property]) and 2 ([insert details for second property]) are not lawfully created parcels according to the laws of the Bahamas;

2. any violation of laws relating to or governing (i) subdivisions, and (ii) separation of ownership of any parcel or parcels of which the Land is or was a part; including any violation of such laws caused by the vendors to the Insured or its predecessor’s acquisition or conveyance of PROPERTIES 1 and 2;

3. any inaccuracies in the following statements:

i. PROPERTIES 1 and 2 consist of separate tax parcels assessed under assessment numbers [insert Property 1 assessment number] and [insert Property 1 assessment number], respectively; and

ii. Further, no other tax assessment numbers affect the aforesaid PROPERTIES.

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.

This endorsement is only valid when it bears an authorized Stewart agent countersignature.

Countersigned by Authorized Stewart Agent:

_____________________________________
Authorized Signatory of Agent

Agent: _____________________________________

Address: ___________________________________

Issuing Guidelines: This endorsement is designed for use with an Owner or Loan Policy.  This endorsement will be added to the Policy upon satisfactory confirmation that the parcels have been created in accordance with the laws of the Commonwealth of The Bahamas and are registered with government entities as separate tax parcels. Underwriter pre-approval is required before offering this endorsement.