FL Change of Partners (Fairway) Endorsement Guideline 1
This endorsement, issued in connection with an Owner's Policy, provides coverage that the Company (Underwriter) will not deny liability, under the terms of the policy due to the fact that the partnership has dissolved or a new partnership has been created resulting from a change in the entities constituting the partnership in title.
The endorsement specifically states that it is not to be construed as to be providing coverage against matters arising subsequent to the date of the policy or insuring the status of the partnership after a change in the entities constituting the partnership.
Underwriting Requirements:There are no additional requirements in issuing this endorsement. However, it is necessary to adhere to the regular procedures regarding issuing a policy when a partnership is in title. They involve determining that the partnership is a legal entity authorized to hold title to real property and that the party executing the instruments on behalf of the partnership is authorized to do so.
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):None