Page 111 - Guide to the Most Requested Commercial Title Insurance Endorsements eBook

ALTA Table of Contents Quick Reference Index

ENDORSEMENT 1 2 3 1 2 3 4 5 6

d. ALTA 28.3-06 (Encroachments – Boundaries and Easements –
Land Under Development): The endorsement is intended for use
in those instances in which the Insurer is provided drawings
clearly depicting improvements to be constructed on the insured
land in the future. The definition of “Improvements” found in
Section 3 of the ALTA 28.3-06 is broader than its definition in
both the ALTA 28.1 and the ALTA 28.2-06. The ALTA 28.3-06 also
adds two additional definitions not present in the ALTA 28.2-06.
“Future Improvement” is defined as a building, structure or
paved area to be constructed on the land after Date of Policy
according to the Plans. “Plans” are defined as a survey, site and
elevation plans or other depictions or drawings prepared by a
named architect or engineer as of a specific date bearing a
described project name or number and consisting of a defined
number of pages. Otherwise the substantive coverage in the
ALTA 28.3-06 is identical to that in the ALTA 28.2-06.

III. Title Tips:

a. An ALTA/NSPS survey will be required to provide the coverages
under the ALTA 28 series endorsements.

b. The issuance of the ALTA 28.3-06 requires submission of the
detailed plans, specifications, and site plans of the future
improvements.

c. The ALTA 28.1 and 28.2-06 cannot be issued with policies insuring
vacant land.

d. The ALTA 28.1, 28.2-06 and 28.3-06 provide a blank in Section 4
in order to identify any matter excepted in Schedule B that title
company is not willing to provide coverage for under the
endorsement.

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