CLTA Location of Land, Designation of Improvements Endorsement Guideline 116
This endorsement provides an ALTA lender with assurances that l) there is located on the land a designated improvement; 2) said improvement has been assessed and is known as a particular street address; and 3) the map attached to the policy shows the correct location and dimensions of the land according to the public records.
Underwriting Requirements:Underwriting Requirements:
(1) When issuing this endorsement, references to the designated improvements should be limited to the principal or basic improvement on the property, (i.e., the residence, apartment building, etc.) with no mention of additional structures such as pools, garages and/or cabanas, etc..
(2) No other details should be given in the policy such as "ten unit apartment house" etc..
Any revision to this form requires approval of a Stewart Title Guaranty Company underwriter. 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):