The Planned Unit Development Endorsement is just one of many types of existing endorsements that can be used when underwriting commercial title insurance. In this article, we are going to talk about the planned unit development endorsements – what they are and how they can be incorporated into a title insurance policy.
What are the Planned Unit Development Endorsements?
Planned Unit Development Endorsements are designed to provide the insured with broad coverage in planned unit development projects that there are no violations of covenants, that assessments are subordinate to the lien of the insured mortgage or that there are no due but unpaid assessments, and insures against loss as a result of encroachments and as a result of unexercised rights of first refusal.
It is important to note that this endorsement relates to property governed by a Declaration of Covenants, Conditions and Restrictions, not the zoning concept of a Planned Unit Development.
These endorsements are available in both lender’s title policies and owner’s title policies.
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Commercial Partners Title Company is your one-stop shop for all things title insurance. Our team of title insurance experts (escrow agents, closers, searchers, and underwriters) is ready and waiting to guide you through the stages of your next commercial real estate transaction. Contact our team of title professionals today to learn more about our services and see how we can help you through your next commercial transaction. You can find us at our primary office, which is located in downtown Minneapolis. Please note that we work with clients in Minnesota and across the United States.