STG Mineral Endorsement Guideline 3
Explanation:The endorsement is requested where there are outstanding mineral interests and the insured is concerned about damage to the surface by reason of the mineral interests. The wording of each endorsement must be carefully considered since the endorsement may refer not simply to existing improvements or structures but also to future improvements unless appropriately worded. Furthermore, by some wording, insurance as to subsidence may be given by implication.
Underwriting Requirements:(1) The endorsement may be issued where there are no outstanding mineral interests or where you are satisfied that all surface rights have been waived in connection with the mineral interest.
(2) The endorsement may be issued on one-to-four family residential property located within a municipality where there is no development in the area reflected by your examination and by personal knowledge of the area.
(3) The endorsement may be issued on commercial property only with underwriting approval (consideration will be given to the amount of outstanding interest, development in the area, and surface waivers).
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):