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Endorsement 107.9 when attached to a policy insuring an owner or a lender provides for the naming of an additional insured under the terms of the existing policy.

The CLTA 107.9 is designed for situations where an additional party wants to be added to a policy, but without the formalities required for issuing the similar CLTA 107.10. It is used when the standards for the CLTA 107.10 can’t be met, for example:

1. Partners in dissolution of the insured partnership acquiring title;
2. A general partnership receiving title from its general partners if all partners were insured under the original policy;
3. A corporation receiving title from its shareholders, all of whom were insured under the original policy;
4. A corporation acquiring title from its parent or a wholly owned subsidiary which owned the policy;
5. A trustee under an inter vivos created by the policyholder for its own benefit.

Each of these situations meet the standard of the definition of “owner” in the Conditions and Stipulations of an ALTA policy, even though each involves a conveyance instead of a transfer by operation of law. The endorsement does expressly except liability for a failure of the insured to acquire an insurable estate or loss resulting from any defect lien or encumbrance attaching as a result of the conveyance (for example, a judgment).

Please note that endorsement availability varies by state.