Chicago Title NCS Chicago: SYFCREC 2021

Surviving Your First Commercial Real Estate Closing I ALTA Policy & Endorsements Title Policy Components You must always consider the policy in its entirety when determining what is and what isn’t covered. o Policy Jacket: Covered Risks, Exclusions, and Conditions o Schedule A: Date of Coverage, Insured, Insured Estate, Legal Description, & Amount of Insurance o Schedule B: Exceptions to Title (General and specific) o Schedule B, Part II*: Subordinated matters to the lien of the mortgage o Endorsements: Additional coverages added to the Policy *Loan Policy only 5 Surviving Your First Commercial Real Estate Closing I ALTA Policy & Endorsements Covered Risks Title being vested other than what is shown in Schedule A 6 1 2 3 4 Any defect in, or lien or encumbrance on the Title, not otherwise reflected in Schedule B Unmarketable Title No right of access to and from the Land Covered Risk Covered Risk Covered Risk Covered Risk 5 6 42