Bulletin: MU2024002

Dear Associates:

The incorporation of endorsements by reference, instead of attaching each endorsement to the title policy, can save time and paper, and is often preferred by our customers. There are different ways, depending on the policy form, by which endorsements are incorporated by reference. Below are examples of how endorsements are incorporated by reference in different form policies:

1. Some policies contain a pre-printed list of specific endorsements in the Covered Risks. These endorsements are incorporated by reference into the policy, unless stated to the contrary in Schedule B. These policies include the ALTA Expanded Coverage Residential Loan Policy of Title Insurance - Current Assessments and ALTA Expanded Coverage Residential Loan Policy of Title Insurance - Assessments Priority.
   
   
2. Some policies contain a list of specific endorsements in Schedule A. These endorsements can be incorporated by reference into the policy by selecting the appropriate endorsement in the adjacent check box. These policies include the ALTA Short Form Residential Loan Policy - Assessments Priority and ALTA Short Form Residential Loan Policy - Current Assessments.
   
   
3. Some policies contain the following provision in Schedule A for incorporating endorsements by reference:

This policy incorporates by reference the endorsements designated below, adopted by the [American Land Title Association][________________] as of the Date of Policy:

Depending upon your jurisdiction, this provision may appear in the ALTA Owner’s Policy of Title Insurance (07-01-2021) (Schedule A, Paragraph 5) and/or the ALTA Loan Policy of Title Insurance (07-01-2021) (Schedule A, Paragraph 6).

Some states have chosen not to use the above paragraph, have modified it, and/or have included a chart with boxes to be checked for endorsements that are incorporated by reference into the policy.

Company Policy

This bulletin reminds you that incorporating endorsements by reference is only suitable for endorsements that do not need to be completed. You should not include any endorsement by reference in any policy if the endorsement requires completion in any form. If you are in a state where the policy forms contain any of the provisions listed above (with or without checkboxes), only endorsements which do not require completion can be incorporated by reference. If an endorsement requires completion, meaning information must be added, or if an endorsement is modified in any way, it cannot be incorporated by reference and must be completed and attached to the policy.

The charge for an endorsement is not affected by the manner of the endorsement’s addition to the policy. The applicable rate for an endorsement should be charged, whether the endorsement is attached to the policy or incorporated by reference into the policy.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.