CLTA Development of Minerals Endorsement Guideline 100.29
Explanation:Provides the CLTA owner or lender with coverage against loss or damage to the improvements already in existence which result from the use of the surface of the land for the extraction or development of minerals excepted from the legal description or shown as a reservation in Schedule B of the policy. This endorsement is identical in coverage to the CLTA 100 Endorsement paragraph 3(b).
Underwriting Requirements:(1) This endorsement may be issued when either the rights of surface entry have been expressly waived at the time of the mineral severance or the rights of surface entry have been subsequently released by the owner of the minerals.
(2) If the rights of surface entry have not been waived, a complete investigation should be made and the appropriate Stewart Title Guaranty underwriting personnel consulted before issuance of this endorsement.
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):None