CLTA Subordination of Lease Endorsement Guideline 120.2
Explanation:Provides the ALTA or CLTA owner's and/or lenders with assurance that a prior mortgage has been subordinated to the insured leasehold.
Underwriting Requirements:(1) This endorsement may be issued if:
(a) The subordination agreement is regular in form; and
(b) Executed by all beneficiaries of record.
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):