The amount of endorsements that may be used in a title insurance policy can be overwhelming. That’s why it’s important to work with a skilled title company to make sure you have the right endorsements for your policy. In this article, we are going to talk about the ALTA Assignment Endorsement and when it may be used in a title insurance policy.
ALTA Assignment Endorsement
The ALTA Assignment Endorsement is typically issued when a mortgage is assigned and the assignee wants protection against loss in the event that the assignment is not valid and enforceable. This endorsement recognizes the assignee as the insured and provides specific coverage against loss in the event that the assignment fails to vest title to the insured mortgage in the assignee or in the event there have been modifications or releases of the mortgage that are not identified in the policy or the endorsement. This endorsement does not advance the effective date of the policy.
This endorsement is available in a lender's policy but not in an owner's policy.
Keep Your Commercial Real Estate Transaction on Track
There are many loose threads in a commercial real estate transaction that can potentially derail a deal. It’s important to have a commercial title company at your side to manage all of these threads and make sure your transaction remains on track until it comes time to close. Commercial Partners Title Company has many decades of experience handling all the aspects of commercial transactions. We have helped clients throughout the state of Minnesota and across the United States with all types of commercial transactions. Let us help you through your next commercial transaction!