Chicago Title Endorsement Handbook - Chicago, IL

T he basic coverages provided by the standard American Land Title Association (“ALTA”) title insurance policies address many of the most common title insurance needs. Often, however, certain insureds or certain aspects of a specific real estate transaction raise special concerns. By requesting an endorsement to the title insurance policy, an Insured owner or lender may be able to receive insurance against the risk of suffering loss or damage by reason of a particular matter that is beyond the coverage of the standard policy jacket. This handbook is intended to serve as an introduction for our customers to the most commonly requested title insurance endorsements. It contains a brief commentary introduction to each endorsement followed by the text of each such endorsement. As you review this handbook, please keep in mind that – due to matters such as governmental regulatory standards and local practices – the Company’s ability to approve and issue any of the endorsements contained in the handbook may vary from state to state and, in some cases, even by locality. In addition, particular transactions may present special risks that might require additional clearance or requirements than those that are contemplated herein. Also, remember that this handbook – by attempting to describe various coverages using non-legal terminology whenever possible – should not be relied upon as a determinative explanation or interpretation of the coverages provided. Rather, the language of each endorsement must be considered to speak for itself. It’s also important to remember that, once approved, an endorsement becomes part of the title insurance policy and that, as a result, the coverage provided by an endorsement is always subject to the other terms and provisions contained in the policy. Finally, remember that this handbook is only an introduction to the most common endorsements. Other endorsements are also available to meet additional needs and concerns. In fact, in most jurisdictions, endorsements may be specially crafted to address specific risks and situations. We at Chicago Title’s National Commercial Services – Chicago thank you for your interest and the opportunity to serve your real estate needs. If you have any questions about any of the material in this handbook – or about any of our real estate services – please feel free to contact your Chicago NCS representative. INTRODUCTION