CLTA Enforceability of Reverter Rights in CC&R Endorsement Guideline 100.12
Explanation:Provides the ALTA and CLTA owner and lender with a specific type of insurance that concerns the enforceability of a reverter provision contained in the CC&Rs.
Underwriting Requirements:(1) This endorsement also insures that a reverter, right of reentry or power of termination provision contained in the CC&Rs is not enforceable and will not result in a loss.
(2) Inspection of the site may be required prior to issuing said endorsement.
(3) Contact the appropriate Stewart Title underwriting personnel for approval to issue 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):