CO Owners Comprehensive Endorsement Guideline 130

Explanation:

Provides insured owner of existing single family residence with affirmative coverage concerning mechanics' liens, parties in possession, encroachments, zoning and present violation of any covenants, conditions and restrictions.

Underwriting Requirements:

(1) An Improvement Location Certificate or better survey showing the location of improvements.

(2) As to Paragraph 1, this protection may be given upon receipt of Stewart Title Guaranty's standard affidavit as to debts and liens. Title personnel must follow standard mechanics' liens underwriting guidelines (See Section 12.12 of the Underwriting Manual.) If the property is new construction and the lien period has not expired, the acceptance of an indemnity from the builder involved must have been approved by the Stewart Title Guaranty underwriting personnel.

(3) As to Paragraph 2, the necessity for determination that the home is owner occupied and is a private residence is re-emphasized. Again, title personnel must be alert for unrecorded tenancies, and must obtain the Stewart Title affidavit.

(4) As to paragraph 3, if review of the survey discloses any of the matters described in (a), (b), and (c) above, they must be shown as exceptions in Schedule B, as well as shown as exception on this endorsement.

(5) Issuance of this endorsement is utilized in place of deleting standard title exceptions related to parties in possession, unrecorded easements, survey matters, and unrecorded mechanics’ liens. Unless you receive authorization from Stewart Title Guaranty underwriting personnel, you cannot issue this endorsement and commit to delete the standard title exceptions referenced herein.