LA ALTA Endorsement 18.1 (Mulitple Tax Parcel)
Explanation:The ALTA Endorsement 18.1 (Multiple Tax Parcel) to the Owner's or Loan Policy is issued if the land consists of multiple tax parcels. It insures against loss if (1) the parcels are not assessed for real estate tax purposes as the Tax Identification Numbers, (2) the parcels are taxed with any other land, or (3) the easements, if any, described in Schedule A can be cut off by non-payment of real estate taxes or assessments against the servient estate.
The underwriting requirements are as follows:
- Verify by review of tax records or tax search that each parcel is taxed as a separate tax parcel.
- Verify by review of tax records or tax search that each parcel is not taxed with other land.
- Show the Tax Identification Number for each parcel in paragraph 2 of the endorsement.
- You must verify that real estate taxes and assessments against the servient estate for any insured easement were paid through the year that the easement was recorded and perform your normal examination of title to the insured easement.
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