Page 137 - 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

WATER ENDORSEMENT SERIES
ALTA ENDORSEMENTS 41-06, 41.1-06, 41.2-06, 41.3-06

I. Purpose:

The ALTA 41 series of endorsements indemnifies an Insured against damage by
reason of the forced removal or alteration of any Improvement (as defined in
the endorsement), resulting from the future exercise of an existing right to use
the surface of the insured land to extract or develop water. Each of the ALTA 41
endorsements provides the same basic coverage and excludes from coverage
loss or damage arising from contamination, explosion, fire, vibration, fracturing,
earthquake, subsidence or negligence by a person or entity exercising a right to
extract or develop water. Note: The definition of improvement differs in each
endorsement.

The ALTA 41 series of endorsements may be issued with both owner’s and loan
policies.

Coverage Provided:

a. ALTA 41-06 (Water – Buildings): Insures against the forced removal or alteration of
any Improvement (as defined in the endorsement) resulting from the future
exercise of an existing right to use the surface of the insured land to extract or
develop In this endorsement, “Improvement” is defined as a building on
the insured land at Date of Policy and is for use with already improved land.

b. ALTA 41.1-06 (Water – Improvements): Provides the same coverage as the ALTA
41-06 except the definition of “Improvements” is expanded and defined as a
building or structure located on the surface of the insured Land, and any paved
road, walkway, parking area, driveway or curb affixed to the insured land at Date of
Policy and that by law constitutes real property, but excluding crops, landscapes,
lawn, shrubbery or This endorsement is for use with already improved land.

c. ALTA 41.2-06 (Water – Described Improvements): Provides the same coverage as
ALTA 41-06 except the definition of “Improvements” is limited to the
improvements in existence as of the Date of Policy that are specifically described in
the This endorsement is for use with already improved land.

11 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 137