Page 131 - 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 35.3-06 (Minerals and Other Subsurface Substances –
Land Under Development): Defines "Improvements" in the same
manner as the ALTA 35.1-06 but also has an additional definition
entitled "Future Improvements". This is defined as a building,
structure, and any paved road, walkway, parking area, driveway or
curb to be constructed on or affixed to the insured land in the
locations indicated by the Plans and that, by law, constitute real
property, but excluding any crops, landscaping, lawn, shrubbery or
trees.

The ALTA 35.3-06 indemnifies an Insured as to loss or damage
arising as a result of the forced removal or alteration of any
Improvements or Future Improvements which results from the
exercise of a right existing at Date of Policy to use the surface of the
insured land for the extraction or development of minerals or any
other subsurface substances.

III. Title Tips:

a. All of the ALTA 35 series endorsements specifically exclude
indemnification for loss or damage which results from contamination,
fire, subsidence, or negligence by the owner of the minerals or other
subsurface substances.

b. All endorsements in the ALTA 35 series provide a blank in Section 4.c.
in order to identify any right or interest excepted in the Policy to be
excluded from coverage under the endorsement.

c. A separate mineral search from the patent forward may be required
to issue this endorsement.

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