The Sears endorsement is one of many that can be incorporated into a title insurance policy. In this article, we are going to talk about the sears title insurance endorsement and discuss when it’s appropriate to use when underwriting title insurance.
Sears Endorsement
The Sears endorsement is ordinarily used when an owner purchases the property intending to make improvements in the future, which will increase the value of the insured property. This endorsement represents the company’s agreement to either increase coverage under the existing policy, or to issue a new policy for the full value of the land and improvements, subject only to those exceptions raised on the original policy (to which the endorsement is attached) together with matters which occur subsequent to the date of the original policy. This endorsement is available in an owner’s title insurance policy but not available in a lender’s title insurance policy.
Reach Out to Commercial Partners Title Company
When you begin a commercial real estate transaction, it’s important to have a skilled and experienced title company by your side who can answer all of your questions and make sure you understand the process. Reach out to the experts at Commercial Partners Title Company now to see how we can help you through the hoops of your next commercial transaction. You can find us at our Minneapolis office and set up a time to chat. We serve the entire state of Minnesota as well as the United States as a whole.