While some title insurance policies are boilerplate, many require specific endorsements to fit the unique needs of the property in question. In this article, we are going to discuss when to use the Assignment of Rents or Leases Endorsement in a commercial title insurance policy.
Assignment of Rents or Leases Endorsement
The Assignment of Rents or Leases Endorsement was developed to standardize a form of endorsement frequently requested on commercial transactions. This endorsement protects a lender against financial losses resulting from: (1) any defect in the execution of the Assignment; and (2) any Assignment of Leases and Rents appearing in the Public Records which is not excepted in Schedule B.
This endorsement is available in a lender's policy but not in an owner's policy.
Commercial Title Solutions for Any Transaction
Commercial Partners Title Company offers commercial title solutions for any commercial transaction. Over the past several decades, we have been providing commercial title services to clients throughout the United States. Our extensive experience has earned us a reputation for being experts in the field of commercial title insurance. Let our team of escrow agents, title closers, underwriters, and more help you through all the details of your unique transaction. You can contact us today at our downtown Minneapolis office to set up a time to speak with one of our experts.