Bulletin: KY2022003

Dear Associates:

The STG Post-Policy Forgery Endorsement to the 2021 ALTA Owner’s Policy is now available for issuance with the 2021 ALTA Owner’s Policy if the property is an existing improved commercial property. You may issue this endorsement with the 2021 ALTA Owner’s Policy without any additional charge or premium, provided the land is not residential property and is improved commercial property, without any additional requirements.

This endorsement enhances the coverage of the Insured in the 2021 ALTA Owner’s Policy and may be issued only at the time of issuance of the 2021 ALTA Owner's Policy. 

This endorsement is not to be issued with any prior version of the ALTA Owner’s Policy, such as the 2006 ALTA Owner’s Policy nor is it to be issued with any of the ALTA Homeowner’s Policies, any Expanded Coverage Residential Policies, or any Loan Policy such as the 2021 ALTA Loan Policy.

EXHIBIT

POST-POLICY FORGERY ENDORSEMENT

WITH 2021 ALTA OWNER’S POLICY

THIS ENDORSEMENT IS NOT TO BE USED FOR RESIDENTIAL PROPERTIES

1. The insurance provided by this endorsement is subject to the exclusion in Section 3 of this endorsement; the maximum dollar limit of liability in Section 4 of this endorsement; and the Exclusions from Coverage, the Exceptions from Coverage contained in Schedule B, and the Conditions in the policy.
2. The Company insures against loss or damage sustained by the Insured by reason of an unrelated third party, after the Date of Policy, claiming to (a) own an interest in the Title, (b) have rights affecting the Title, or (c) have a lien on the Title, in each case because of impersonation of the Insured or forgery of the Insured’s signature by an instrument recorded in the Public Records.
3. The coverage under this endorsement shall not (a) extend to any loss or damage, costs, attorneys’ fees, or expenses sustained by the Insured if the claimed forgery or impersonation is caused in whole or in part by any related third party, including but not limited to any spouse, relative, or other person of affinity or consanguinity, or any employee, officer, director, partner, member, shareholder, representative, or agent of the Insured or of an affiliated party, or (b) be effective or apply if the Land is designed, intended, or used primarily for residential purposes, including, but not limited to, one-to-four family residential property, or (c) be effective if this policy or title insurance is subject either to reinsurance or to co-insurance.
4. The coverage under this endorsement is subject to a maximum dollar limit of liability of the lesser of (a) $3 million for loss or damage, costs, attorneys’ fees, and expenses in the aggregate, or (b) 25% of the Amount of Insurance. Notwithstanding the provisions of Condition 10 of the policy, any payment under or pursuant to this endorsement, including payments for loss or damage, costs, attorneys’ fees, and expenses, reduce the Amount of Insurance under the policy pro tanto and the maximum limit of liability under this endorsement.

This endorsement is issued as part of the policy. Except as it expressly states, it does not (i) modify any of the terms and provisions of the policy, (ii) modify any prior endorsements, (iii) extend the Date of Policy or (iv) increase the Amount of Insurance. To the extent a provision of the policy or a previous endorsement is inconsistent with an express provision of this endorsement, this endorsement controls. Otherwise, this endorsement is subject to all of the terms and provisions of the policy and of any prior endorsements.

Copyright 2021 Stewart Title Guaranty Company. All rights reserved. The use of this Form is restricted to Stewart Title Guaranty Company, its issuing agents, and affiliates in good standing as of the date of use. All other uses are prohibited.

This form is immediately available for use in your state.

Please contact Property Info Customer Care at customercare@stewart.com or your title production software vendor to have the new forms uploaded to your system.

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

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