CLTA Mechanic's Lien Coverage-After Notice of Completion Endorsement Guideline 101.2
Provides the lender with insurance concerning the priority of the lender's lien over mechanic's liens arising out of particular work or improvements disclosed by the recorded notice of completion.
Underwriting Requirements:Underwriting Requirements:
(1) This particular endorsement form is designed to be used when a valid notice of completion has been recorded which describes all of the land in the policy.
(2) If the notice of completion describes only a portion of the land in the policy the CLTA 101.10 Endorsement should be used. This endorsement should only be issued after an investigation has revealed that:
(a) a valid notice of completion has been recorded;
(b) 60 days have passed from the time of recording of the notice of completion;
(c) no claims of lien arising from work referred to in the notice of completion have been filed.
(3) This guideline is for California property. The appropriate Stewart Title Guaranty underwriting personnel must be contacted prior to issuance in other states.
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):