Page 22 - ALTA Endorsements Guide

ALTA ENDORSEMENT RETURN TO TABLE OF CONTENTS

ALTA 4.1

Condominium - Current Assessments

This endorsement is issued on residential or commercial property that qualifies as a condominium
under state condominium statutes. The ALTA 4.1 insures that (i) the unit is part of the condominium;
(ii) the condominium documents comply with state requirements; (iii) there are no violations of

restrictive covenants, and any violations of the covenants will not cause a forfeiture or reversion
of title; (iv) the unit will be assessed for real property taxes as a separate parcel; (v) there is no

obligation to remove any improvements due to encroachments; and (vi) there has been no prior
Right of First Refusal (“ROFR”) which could defeat the title.

The ALTA 4.1 endorsement is virtually identical in form to the ALTA 4, but since it removes any
references to the “Insured Mortgage” it is primarily intended to be used in connection with an

Owner’s Policy. However, it may also be issued with the Loan Policy. This endorsement should be
issued in states where the Insured Mortgage will not have future priority over assessments. The
endorsement is available with owner’s and loan policies.

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