Page 57 - 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

LEASEHOLD ENDORSEMENT SERIES
ALTA ENDORSEMENTS 13-06, 13.1-06

I. Purpose:

These endorsements are used in conjunction with policies insuring leasehold estates.

The ALTA 13-06 is available for Owner's Policies only, and ALTA 13.1-06 is for Loan
Policies only.

II. Coverage Provided:

a. ALTA 13-06 (Leasehold Owner’s): The ALTA 13-06 is attached to an ALTA Owner’s
Policy to convert it to a leasehold owner’s policy. This endorsement contains
certain provisions regarding the valuation of the insured leasehold estate in
computing loss or damage under the policy as well as additional items of loss
covered.

b. ALTA 13.1-06 (Leasehold Loan): The ALTA 13.1-06 is attached to an ALTA Loan
Policy to convert it to a leasehold loan policy. This endorsement contains certain
provisions regarding the valuation of the insured leasehold estate in computing
loss or damage under the policy as well as additional items of loss covered.

III. Title Tips:

a. Review of a copy of the lease agreement and estoppel from Lessor confirming
the lease is not in default is required.

b. Schedule B will contain an exception for terms and provisions of the lease.

c. The lease agreement or memorandum of lease must be recorded.

6 NCS Commercial Endorsement Guide | oldrepublictitle.com/ncs 57