ALTA Adopts New and Revised Endorsements

On Tuesday, April 2, 2012, the American Land Title Association (“ALTA”) formally approved the adoption of 22 new and revised endorsements.  You can view full copies of all the endorsements on the ALTA webpage www.alta.org/forms/.

The revised forms are revisions to already existing ALTA endorsements, which have been withdrawn and replaced with the following endorsements.  They are:

  • ALTA Endorsement 9-06 Restrictions, Encroachments, Minerals – Loan Policy (04-02-12)
  • ALTA Endorsement 9.1-06 Covenants, Conditions and Restrictions – Unimproved Land – Owner’s Policy (04-02-12)
  • ALTA Endorsement 9.2-06 Covenants, Conditions and Restrictions – Improved Land – Owner’s Policy (04-02-12)
  • ALTA Endorsement 9.3-06 Covenants, Conditions and Restrictions – Loan Policy (04-02-12)
  • ALTA Endorsement 9.6-06 Private Rights – Loan Policy (04-02-12)
  • ALTA Endorsement 9.7-06 Restrictions, Encroachments, Minerals – Land Under Development – Loan Policy (04-02-12)
  • ALTA Endorsement 9.8-06 Covenants, Conditions and Restrictions – Land Under Development – Owner’s Policy (04-02-12)
  • ALTA Endorsement 13-06 Leasehold – Owner’s (04-02-12)
  • ALTA Endorsement 13.1-06 Leasehold – Loan (04-02-12)

The new forms are new endorsements which were drafted in response to industry needs.  The new endorsements are:

  • ALTA Endorsement 3.2-06 Zoning – Land Under Development (04-02-12)
  • ALTA Endorsement 28.1-06 Encroachments – Boundaries and Easements (04-02-12)
  • ALTA Endorsement 35-06 Minerals and Other Subsurface Substances – Buildings (04-02-12)
  • ALTA Endorsement 35.1-06 Minerals and Other Subsurface Substances – Improvements (04-02-12)
  • ALTA Endorsement 35.2-06 Minerals and Other Subsurface Substances – Described Improvements (04-02-12)
  • ALTA Endorsement 35.3-06 Minerals and Other Subsurface Substances – Land Under Development (04-02-12)
  • ALTA Endorsement 36-06 Energy Project – Leasehold/Easement – Owner’s (04-02-12)
  • ALTA Endorsement 36.1-06 Energy Project – Leasehold/Easement – Loan (04-02-12)
  • ALTA Endorsement 36.2-06 Energy Project – Leasehold – Owner’s (04-02-12)
  • ALTA Endorsement 36.3-06 Energy Project – Leasehold – Loan (04-02-12)
  • ALTA Endorsement 36.4-06 Energy Project – Covenants, Conditions and Restrictions – Land Under Development – Owner’s (04-02-12)
  • ALTA Endorsement 36.5-06 Energy Project – Covenants, Conditions and Restrictions – Land Under Development – Loan (04-02-12)
  • ALTA Endorsement 36.6-06 Energy Project – Encroachments (04-02-12)

Several weeks ago, I discussed the revised endorsements and the new ALTA 3.2 and ALTA 28.1.  Last week’s blog dealt with the new ALTA 35 Series dealing with Minerals and Other Subsurface Substances.  My next blog will address the new 36 Series on Energy Projects.

It is important to remember that, although these forms have now been formally adopted by the ALTA, in many states they may not be used until filed and/or approved by the title insurance companies, or in states like Texas, Florida and New York, adopted by the appropriate state regulatory body.  There may also be an accompanying charge or fee to issue some of these endorsements.  Please check with your local title company or title agent to determine if they are approved for use in your state.

 

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