Page 130 - 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

MINERALS AND OTHER SUBSURFACE SUBSTANCES ENDORSEMENT SERIES
ALTA ENDORSEMENTS 35-06, 35.1-06, 35.2-06, 35.3-06

I. Purpose:

The ALTA 35 series of endorsements provides limited coverage for damage to
improvements located on the surface of the insured land that occurs because of the
use of the surface for the extraction of minerals and other subsurface substances
that are excepted from the description of the insured land or excepted in Schedule B
of the Policy.

The ALTA 35 series of endorsements may be issued with both owner’s and loan
policies.

II. Coverage Provided:

a. ALTA 35-06 (Minerals and Other Subsurface Substances – Buildings): Defines
“Improvements” to be buildings located on the insured land at Date of Policy.
The endorsement indemnifies an Insured against loss or damage caused by
forced removal or alteration of improvements arising from the future exercise of
any legal rights existing at Date of Policy to extract or develop minerals or any
other subsurface substances that are excepted from the description of the
insured land or excepted in Schedule B.

b. ALTA 35.1-06 (Minerals and Other Subsurface Substances – Improvements):
Provides the same indemnification coverage as to the improvements as the ALTA
35-06; however, “Improvements” are defined to include improvements affixed
to the insured land at Date of Policy which by law constitute real property, but
specifically excepting landscaping, lawn, shrubbery or trees.

c. ALTA 35.2-06 (Minerals and Other Subsurface Substances – Described
Improvements): Defines “Improvements” by reference to a specific itemized list
of improvements set forth in the endorsement. The same coverage with respect
to the removal or alteration of such improvements is provided in the ALTA 35-06
and ALTA 35.1-06.

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