Page 172 - ALTA Endorsements Guide

A L T A E N D O R S E M E N T

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LEAX16 Tenants in Possession (Evidence of Records)

Rights of tenants in possession, as tenants only, under the following leases:

LEAX17 Recharacterization

Any defect, lien or encumbrance or claim that the Title is vested other than as
insured, resulting from a claim or determination that any, or all, of the following
documents, either jointly or severally, should be or has been recharacterized as a
mortgage or as a loan transaction:

1) Deed from _____ to ______, dated _____, recorded _______.
2) Lease from _____ to ______, dated _____, recorded ______.

3) Option from _____ to ______, dated _____, recorded ______.

LEAX18 Lease with Purchase Option

Terms and provisions of an option or right of first refusal, as contained in the lease
recorded __________.

LEAX19 Severed Improvements

Any right, title or interest to the buildings, structures and other improvements,
located on the Land, with the right to maintain and use the Land, together with
access and support as disclosed by document(s) recorded ________________.

LEAX20 Lease Compliance (Recorded)

Any failure to comply with the terms, provisions and conditions of the lease,
recorded __________.

LEAX21 Lease Compliance (Unrecorded)

Any failure to comply with the terms, provisions and conditions of the lease,
disclosed by document, recorded ______________.

Life Estates

Exceptions
LIFX01 Life Estate

_________, as to a life estate, as created by document recorded _________.

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