There are a wide variety of endorsements that may be beneficial to use in a commercial real estate transaction. Whether or not an endorsement is appropriate for your transaction will depend on the specific details of your transaction. In this article, we are going to briefly discuss the ALTA contiguity endorsements and how they can be used when underwriting title insurance.
Contiguity Endorsements
The ALTA contiguity endorsements provide affirmative coverage that the parcel or parcels are contiguous.
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The ALTA 19 Endorsement insures that boundaries of two separate parcels, both of which are included in the insured legal description, are contiguous.
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The ALTA 19.1 Endorsement confirms contiguity between the insured land and an adjacent described parcel or roadway.
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The ALTA 19.2 Endorsements allows for the description of specific parcels (for example, Parcels 1 and 2) and insures against loss resulting from gaps or gores lying within, as well as between, the specified parcels.
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An alternative (not ALTA) endorsement is available which insures that a single described parcel is internally contiguous.
These endorsements are available for both owner’s and lender’s title insurance policies.
Commercial Partners Title Company is Here to Help
If you are working on a commercial real estate deal and need title insurance services, Commercial Partners Title Company is here to help. We have escrow agents, title closers, underwriters, and more team members on hand to help you with any issues that may arise. Learn more about the commercial title process and see how our team of experts can help you through the details. Reach out to our team at our Minneapolis office today to get more information about our services and how we can help.