There are many ALTA endorsements that may be used when writing title insurance. In this article, we are going to discuss ALTA aggregation endorsements and how they can be used when underwriting a lender’s title insurance policy.
ALTA Aggregation Endorsements
This 2006 ALTA loan policy endorsement is used when a single debt is secured by mortgages on multiple parcels of land insured by multiple policies (most likely in situations where properties are in different states with different title insurance premium rates, thus different policies). The endorsement ties all of the policies together so that the Company’s liability under each policy is the total amount of all the insured mortgages. The Company’s maximum liability under all of the policies, however, is also the total amount of the insured mortgages. The Company’s liability under each policy is still limited by the Conditions of the policy except that it is not limited to the amount of insurance specified in Schedule A of the policy. The ALTA 12.1 is used when a state has a mandated liability limitation for a single risk.
Commercial Partners Title
If you’re looking for help with your next commercial real estate transaction, the team at Commercial Partners Title can help you through the entire process, and make things as simple as possible. We have decades of experience that we put to work on every transaction we facilitate. Reach out to our commercial title experts to learn more about our services and how we can help facilitate your transaction! You can find us at our primary office located in downtown Minneapolis.