STG Fairway Endorsement Guideline 3
Explanation:The Fairway case suggests that the ALTA Owner's Policy does not continue "by operation of law" to cover a partnership after dissolution even if the business continues. As a result, the insured requests a Fairway Endorsement on many commercial transactions where the insured owner is a partnership (and often anticipates changes in partners), or similar entity.
Underwriting Requirements:Secure approval from our Underwriting personnel to issue the endorsement.
Any revision to this form requires approval of a Stewart Title Guaranty Company underwriter. The underwriting guidelines contained herein have been provided for general reference. The facts, circumstances, and location of the subject property should be considered when determining the issuance of the requested form or endorsement. Please note that all of the forms and endorsements included in this system may not be available in all states. Accordingly, please contact the appropriate Stewart Title Guaranty Company underwriting personnel in order to determine availability.
Compliance with the underwriting guidelines contained herein in no way obligates Stewart Title Guaranty Company to issue any form or endorsement.
This guideline applies to the following form(s):